audit question

[helpsoneeded]

When do you know if you will be audited? We go to our 341 in another 3 weeks and havent heard anything about it

[JoeBankrupt33]

I knew about 10 days after I filed. In pacer, it shows that I was selected for audit 7 days after my filing date.

[ready2puke]

How did do they pick who gets audited? Its ramdom isnt it? Or does something trigger it?
Thanks

[sassiebaz]

What is an audit and what does it entail?

[Kkole425]

We were told that anyone can be audited and it was random. My attorney then said he has not had anyone audited in his practice of 20 years. So we will be the first for him I am sure!! LOL

[justbroke]

It's random. There is no selection criteria other than you're number XX of XXX. They audit about 1 in 250 cases automatically.

That doesn't preclude the U.S. Trustee (UST) from auditing your case. Generally though, you'd have to have very high unsecured debt (> $100K) and be over the median for the4 UST to get interested.

So, basically, it's just the luck of the draw.

[sassiebaz]

how do you know? When do they inform you? Right after you file or after 341 meeting?

[justbroke]

how do you know? When do they inform you? Right after you file or after 341 meeting?

You are usually notified within a few weeks of filing and certainly before the 341 Meeting.

[JoeBankrupt33]

What is an audit and what does it entail?

It wasn't too bad. All they did was request documents and compare them to my petition. They told me that they also get data from 3rd party sources, but I don't know what.

I had to provide 3 yrs income tax returns, 6 months bank statements with a description of any deposit over $500, 6 months paystubs, and possibly more.

[aljohnson007]

Three days after my 341, I received notice that my case had been selected for audit by the UST. That was on 07//04/09 and haven't heard anything since.