How Do You Avoid An IRS Audit?
It’s every American’s nightmare–an audit by the IRS. While some audits are inevitable, there are ways to avoid an IRS audit in normal circumstances. Following certain guidelines, an audit by the IRS is much less likely to occur, saving the taxpayer time and money. Read on to learn more. File an accurate return. Make sure all incomes are reported, and all deductions are accurate. Check your calculations. Then double check them. Inaccurate returns are an automatic red flag to the IRS. If necessary, find an accountant through the phone book, or go to a local filing agency. Better to pay someone up front than to pay the IRS later. Explain transactions on the return–especially complex or strange ones. The IRS red flags returns that have no explanations. For instance, if employed by a large company, but business supplies are given as an expense, attach a sheet explaining the company does not provide nor reimburse for such expenses. Know what can and cannot be deducted. Avoid taking advice
