Taxpayer's Fear is a term used to describe the anxiety and worry that taxpayers experience when they are subject to an AUDIT by the Internal Revenue Service (IRS). An AUDIT is a process in which the IRS reviews a taxpayer's financial records to ensure that they have reported their income and deductions accurately. Taxpayers who are audited may be required to provide additional documentation or face penalties for any discrepancies found. The fear of an AUDIT can be a source of great stress for taxpayers, as it can lead to costly fines and other consequences.