If the IRS does decide to audit you, there is little you may do to stop it. You may, however, reduce the odds that you will be singled out for that extra attention in the first place.
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“The largest pool of filers – which consists of individuals or joint filers who earned less than $200,000 but more than the lowest earners.
ALWAYS CHECK YOUR FIGURES
One of the most common red flags for auditors – erroneous data entry – is also one of the most preventable. It seems simple enough to follow the advice to “double-check your return,” but surprisingly, people often are too careless regarding their taxes, said Noah Daniels, managing partner of Advance Tax Relief in Houston, Texas.
He advised waiting for all your income reports, bank and investment statements and other applicable financial paperwork to arrive before starting your tax return.
Correctly reporting dependents and exemptions, as well as ensuring that the numbers match, is important because the IRS's automated system will easily detect discrepancies.
Advance Tax Relief can help you make sure your tax return is correct by completing thousands of error checks before you file, so you can be sure it’s accurate.
HONESTY IS THE BEST POLICY
Perhaps it’s common sense, but being 100 percent truthful on your tax return is an absolute must to reduce the chances of an audit. Realistically reporting income, deductions, credits and other figures can help keep the tax man at bay..
Not reporting all your income is a surefire way to attract attention.
“Outright lying, especially if you earn a six-figure income or are hiding large sums of cash, is definitely a behavior that will get you audited,” Noah Daniel,EA said. You should be prepared to look an auditor in the eye and support any number you claimed on your return, Noah Daniels EA says.
Self-employed filers, for example, should have receipts for every business deduction they claim.
CLAIM REALISTIC DEDUCTIONS
Unusual or unrealistic itemized deductions, either for individuals or small business owners, may raise a red flag for auditors.
For a sole proprietor who files Schedule C, which details profits and business expenses, reporting losses for three years or more could encourage an auditor to request proof that the filer is actually in business.
Filers itemizing deductions on Schedule A must know what constitutes a legitimate deduction.
Advance Tax Relief can help you determine what tax deductions you qualify for. Our Agents will ask you simple questions about your income, family situation, and changes in your tax situation and credits.
Then, based on your answers, An Attorney will search over 350 tax deductions and credits to help you make sure you get all the tax breaks you deserve.
According to the IRS, of the nearly 141 million individual returns filed for fiscal year 2011, 1.1 percent were audited.
Whatever you do, don’t duck the IRS if they should come calling. Enlist a tax pro if you’re unsure of how to respond to an audit notice.
Advance Tax Relief offers an experienced team of tax professionals who specialize in working directly with the IRS to solve difficult tax issues for businesses as well as individuals with back taxes or other tax issues. Contact us today at 800-790-8574 for more information or to schedule a consultation.
Call us now at 800-790-8574 or email taxpros@advancetaxrelief.com
Calls and emails are returned during our regular business hours 8:30am - 5:00 pm CST.
So, if you have IRS Problems, Owe Taxes, have Past Due UnFiled Tax Returns – Take action today! You should work with a local tax relief firm. Call Advance Tax Relief (800) 790-8574
GET TAX RELIEF HELP TODAY
If you think that you may need help filing your 2017 tax return and past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund.
Advance Tax Relief has a offices in Houston, TX and Los Angeles, CA and helps many individuals just like you work with the IRS to solve a wide variety of issues, including penalty waivers. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back taxes.
Call our team today at 800-790-8574 for more information. For a free consultation, schedule an appointment with us online.
Feel free to also learn about us and contact us via www.advancetaxrelief.com.
However, it doesn’t matter where you live, we service taxpayers nationwide.
Over $50 million has been settled for our clients nationwide.
Advance Tax Relief is a Professional Tax Relief Organization
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