How To Avoid A Tax Audit When Filing Taxes

715 words - 3 pages

Most people dread the prospect of being audited by the Internal Revenue Service. Countless individuals will never be subjected to an IRS audit, but taking certain steps to avoid such an experience is not a bad idea. Those who seek to prevent an intensive examination of their financial records may wish to explore a few easy tips on how to avoid a tax audit.

File Correctly and Completely

One of the best ways to prevent an audit is to file taxes properly. Rushing through them so that they can be done quickly is not a good practice. A person would be well advised to set aside plenty of time to prepare a tax form correctly. Gathering all of the needed documents, from employment information to receipts for charitable donations, is essential. Mailing an incomplete or inaccurate form to the Internal Revenue Service could lead to an unwelcome visit from an IRS auditor. If a person files the wrong form, attention may be directed toward that individual’s tax records.

Exercise Caution Regarding Deductions

Another sound practice is to be especially careful when listing deductions. If someone is listing a deduction that is high in relation to income, the IRS may choose to investigate the matter. However, IRS workers know that sometimes higher deductions are valid, so providing a detailed explanation as to why a deduction is high could curtail the probability of an audit. Providing a document that proves why a deduction is so high is also a wise action to take. A person can make a photocopy of the document and send that to the IRS, so the original item may be securely saved for future reference.

Be Wary of Advice

Advice from friends, relatives and coworkers might be useful, but it is not always relevant. Implementing a tip from a colleague could lead to trouble with the IRS. The best person to consult is a qualified tax professional. Much information can be found on the IRS website, as well. If an individual has questions and cannot find the answers online, the IRS has employees who are also available to assist people. Simply calling the national phone...

Find Another Essay On How to Avoid a Tax Audit when Filing Taxes

Acquisitions: biases and how to avoid them

1622 words - 7 pages overconfident about the exploitation of the revenue synergies anyway. Now that we know the bias exists in this decision-making process, it is more important to ask ourselves how we can overcome the bias. Daniel Kahneman in his studies with Tversky (1979) and Lovallo (1993) introduces a technique called ‘reference-class forecasting’ to avoid overconfidence while estimating synergies. According to this technique, prior to making predictions about potential

Switching Homes: What to Avoid When Planning to Upgrade your Home

1029 words - 5 pages Switching Homes – What to avoid If you’re planning to upgrade your home by selling your old house and buying a new one, you need to be careful about a few aspects. Why? Well, people usually either sell their houses before settling on a new one, or buy a new house while the old one is still on the market. It’s difficult to time the two perfectly, and paying for upkeep and mortgages on two houses can amount up to significant amounts of money, even

How to Avoid Common Food Intolerances and Chemicals

2193 words - 9 pages concentrated layer of MSG. To restrict any further decomposition of the protein, enzymes are being added to HFCS. In case you are doubt about your sensitivity towards glutamates, you should avoid gluten products, corn, dairy products and soy. To get a result whether glutamates are the main cause, a test may be required. When you do not consume diet containing glutamates for a period of time and consume digestive enzymes and probiotics, the thin

Plagiarism: What is it and how to avoid it?

1028 words - 4 pages borrow information from other sources because they feel that they are unable to come up with original thoughts and ideas. Failing to learn how to use proper citation can cause a lot of confusion during the writing process. This confusion causes many students to use improper citation, which can be viewed as plagiarism. Intentional vs. Unintentional Many of the reasons for plagiarism already discussed are examples of “unintentional” plagiarism. Most

The 10 Greatest Marketing Mistakes And How To Avoid Them!

5528 words - 22 pages The 10 Greatest Marketing Mistakes And How To Avoid Them! Its a certain fact that business these days is more competitive than its ever been. To stay alive these days, you just cant just offer a quality product at a fair price. These days, you have to know how to market effectively. Unfortunately, most businesses have no idea of how to get the most out of every marketing dollar that they spend. You should demand that ou get the best results from

How to avoid Fraud or Abuse in Commercial Bundled Payments

1854 words - 8 pages . There are multiple federal and state fraud and abuse laws and regulations that must be considered when designing a commercial bundled payment plan. It is important to note that federal fraud and abuse laws and regulations only apply to programs providing care to federal health care payment program beneficiaries. Thus it may seem unnecessary to comply with these regulations, given that commercial bundled payments by definition do not include the

What Shin Splints Are and How to Avoid Them

1011 words - 4 pages in the front of the outer leg. • Also, a common belief by athletic trainers is that a stiff Achilles tendon and a weak ankle muscle cause an overload of stress on the tibia, causing shin splints. • In the early stage of shin splints an athlete will describe a pain that is present when the training first begins, but then disappears as it continues. • Some exercises that are most likely to cause shin splints are: running downhill, running on a

Surviving Pinterest: A Guide to Avoid Copyright Infringement

1207 words - 5 pages the experience while avoiding the risk factors is to only pin a picture with a proper link to it because a lot of pins tend to lead to a false link that does not match. “It is essential when using Pinterest that your never pin or repin materials that are not either a) your own or b) under the public domain (Mazereeuw).” This allows individuals to avoid copyrighted infringement and breaking of the law. In January 2012, comScore reported the site

A Tax to Benefit the Public

1642 words - 7 pages Finance Committee as a way to help pay for President Obama’s health care overhaul.” The government claims that the reason for “fat taxes” is to reduce consumption and to better the health of the United States as a whole. Although the tax is proposed as an approach to benefit all that partake in it, in the long run, it will be yet another source of revenue with little or no effect on its intended purpose. The government knows that people will buy

Other People’s Words: What Plagiarism Is and How to Avoid it

804 words - 4 pages The book, Other People’s Words: What Plagiarism Is and How to Avoid it, has taught me many things about plagiarism. Some of the things this book taught me are the definition and some ways to avoid plagiarism. Descriptions are made as to what defines plagiarism and ways to avoid plagiarism. “To plagiarize is to take work that is not your own and submit it as your own, without giving credit to the person who created it.” Some suggestions to

Commentary on Stanley Fish's "How to Recognize a Poem When You See One"

914 words - 4 pages Hersh PatelAP English14 September 2003Commentary on Stanley Fish Article"How to Recognize a Poem When You See One"Stanley Fish, in his inductive essay "How to Recognize a Poem When You See One", argues that the process of "distinguishing" certain "features" of an object follows "the act of recognition". Fish offers such conclusions from a short anecdote, which illustrates an analytical response of a group of students to five names he writes on a

Similar Essays

Important Documents To Prepare When Filing A Divorce

631 words - 3 pages legal document of your properties, so that you will be ready when the court asks you to present them. You can acquire the necessary documents from your bank or mortgage company. In case the bank or loan agency has refinanced your real-estate property, then you should provide any documents that serve as a proof that refinancing occurred. It is also advisable to attach a tax assessor's statement on all your real-estate documents. You may also

How To Avoid A Recession Essay

796 words - 4 pages Do we realize how fast our country is heading toward a recession? What are ways we can fix this problem so that we can stay out of a recession? Well I believe that there are about three ways for our country to stay out of a recession. The reasons I have came up with are having wage insurance or raising minimum wage, online education or better training programs, and also when applying for unemployment they should have it to where everyone has to

Understanding Consumer Perception Of Brand Identity: How To Avoid Failure When Extending A Well Established Brand

6803 words - 27 pages determine what will make a potential brand extension be successful1.3 PurposeThe purpose of this paper is to explore the possible negative outcomes of brand extension and, in particular, investigate the importance of understanding brand identity when evaluat-ing potential brand extensions. We will try to understand how the image of the main brand is imprinted upon the brand extension and how to avoid failure when establishing an al-ready well

How To Avoid Lying Children Essay

1916 words - 8 pages Sabeihah Rashed Ali 200912518 To avoid Lying children Lying is telling untruth with knowing the truth. It’s a problem that most of parents have on their children. Most children tell lies at some point, but it can be a real surprise for parents the first time it happens. Lying is normal part of child’s development. When a child lie that doesn’t mean that he is amoral but she is solving her problem in a faulty way