How to Prevent an IRS Audit
Some fear the dentist. Others might fear a car accident or spider bites. But none of these options are as scary as an tax audit brought on you by the IRS. As time approaches, most simply want to flat out avoid an audit, and though there is no simple answer or step anyone can take to avoid such, there are some ways to reduce the risk of one of life's scariest moments. If said steps are followed, should an audit occur, getting through one might that much easier.
One of the most important things that a person must do is keep their receipts. From the start of the year to the end, keeping a record of your purchases is vital; keeping them in a neat and organized fashion will also help with your tax resolution. Another important step to ensuring a favorable tax resolution is doing your taxes correctly to begin with. Through the assistance of tax preparation software or using a public accountant, many have found the margin of error reduced, which the IRS doesn't generally audit.
Most tax professionals, both electronic ones like TurboTax or in person one's like your CPA, will assist you in the instance that you're chosen to have your finances combed through. Accountants are even specifically trained to ask the right questions and ensure that you qualify for the deductions and credits you might apply for, and find documentation to provide the IRS, making sure an audit doesn't happen in the first place. They won't make up expenses or take deductions you do not qualify for, and laws against tax preparer fraud protects you from their intentional errors.
Those who file schedule C forms should be especially afraid, as the IRS has been known for preferring to audit these filers, as they require less documentation of the reporting numbers. If you're filing this way, your best tip is to hire an accountant as it generally pays off.
None of this though, is as important as documenting each and every deduction you might make. Random audits for every sort of filer do happen by the IRS, but if a receipt of everything is kept from the start of the year to the end, your taxes will be done right and an IRS tax audit will be nothing.
Guardian Tax Resolutions will help you obtain relief from the IRS today. Our professionals are experienced and qualified with significant expertise in resolving IRS tax problems.
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