What if your tax return gets audited?

There are many scary words and phrases, such as “root canal,” “bedbugs” and “new transmission.” “Tax audit” is one of them — but you probably needn’t worry too much about that.

For one thing, relatively few tax returns get audited, and audit rates have been falling in recent years. During the tax agency’s fiscal year 2019 (which ended Sept. 30, 2019), only 0.45 percent of individual tax returns were examined — down from 1.11 percent in 2010.

Here’s what you need to know, though, in case you do get audited:

You need to respond to the notice. It will tell you which items are being questioned, so you know what documentation you need to mail in or bring to the audit in person. (Most audits are handled completely by mail.)

Stay focused. Bring or send in only what’s required, as additional items could raise further questions. Also, send copies of documents, not originals, in case any get lost. If you meet with an auditor, you’re essentially providing testimony, so keep your answers to questions brief — if possible, just say “yes” or “no.” Light banter about your new Porsche, for example, could raise some unwanted questions.

Replace any missing documents supporting your return. An auditor won’t skip items just because you can’t find them. Without supporting documents, that deduction you took may be denied.

Learn about your rights as a taxpayer: Read Irs.gov/ taxpayer-bill-of-rights. For example, you have the right to hire someone (such as a lawyer, a certified public accountant or an IRS Enrolled Agent) to represent you in your dealings with the agency.

Most audits involve a simple question and can be easily resolved. You might reduce your chances of being audited in the first place by making sure your tax return is legible and complete. And keep good records of your income and expenses, as they can make dealing with an audit much easier. Learn much more at Irs.gov and Fool.com/taxes.