Best Steps to Take in Order to Avoid an Audit
The Best Steps to Take in Order to Avoid an Audit. An SFS Tax Problem Solutions Blog.
No one wants to be audited by the IRS. But it happens.
One of the top questions taxpayers consistently ask is how to avoid an audit.
The short answer is: You may not be able to avoid an audit
The best you can do is to be honest and turn in a return that reflects that.
Now, ignorance is no excuse. If you actually owe more than indicated on your return, you will be held accountable for that. Don’t be afraid to get professional help to make sure you file correctly each year.
It is possible to go through life without being audited though
That’s because in any given year, less than one percent of returns are audited. So with 250 million adults in the US, odds are in your favor.
There are things that can make you more likely to be audited.
There are also steps that help avoid the possibility of it happening, and, if it does, to mitigate the likelihood you will owe back taxes (and penalties and interest as the cherries on top).
However it would be irresponsible to even hint that there is some way to guarantee you won’t be audited.
Why? Because one of the three ways the IRS [link to IRS.gov] chooses those returns to audit is random.
That’s right, random luck of the draw!
Asking how to avoid an audit is the wrong question to ask
The right question is, “How do I make my return audit-proof?”
“Sometimes you can’t avoid an audit,” says Jeffrey Schneider, author of Now What? I Got a Tax Notice from the IRS. Help! “Prepare your return with that in mind.”
Keep your documentation.
Only take deductions you are entitled to (and for the amount you are entitled to).
Don’t forget about the alternative minimum tax! Make sure you are not subject to it each year.
Finally, if you do get audited, don’t feel as though you have to go it alone. You have every right to hire an Enrolled Agent to represent you. EAs are the only federally licensed tax practitioners who specialize in taxation and have unlimited rights to represent taxpayers before the IRS.
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Jeffrey Schneider, EA, CTRS, NTPI Fellow has the knowledge and expertise to help you reach a favorable outcome with the IRS. He is the head honcho at SFS Tax & Accounting Services as well as the Enrolled Agent and Certified Tax Resolution Specialist for SFS Tax Problem Solutions.
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Now What? I Got A Tax Notice From The IRS. Help! Defining and deconstructing the scary and confusing letters that land in your mailbox. Jeff defines and deconstructs the scary and confusing letters in a fashion that mixes attention to detail with humor and an intricate clarification of what is what in the world of the IRS.
The book is available in paperback and ebook on https://www.amazon.com/
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For more on SFS Tax Problem Solutions, visit: http://sfstaxproblemsolutions.com/
For more on SFS Tax & Accounting Services, visit http://sfstaxacct.com/
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738 Colorado Avenue Stuart, FL 34994
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Phone: 772-337-1040
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The Best Steps to Take in Order to Avoid an Audit
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