Top 10 IRS Audit Protection Tips
The tax filing season is almost ove and in the rush to get your taxes prepared before April 15 mistakes can be made that could trigger an audit. These 10 tips will help you save time and help to protect you in the event of an IRS audit:
1. Gather your records. Collect all tax records you need to file your taxes. This includes receipts, canceled checks and records that support income, deductions or tax credits that you claim on your tax return. Store them in a safe place.
2. Report all your income. You will need to report your income from all of your Forms W-2, Wage and Tax Statements, and Form 1099 income statements when you file your tax return.
3. Get answers. Call us with your questions at (562) 251-1300. Even if you are not our client we will try to help you. You can also try using the Interactive Tax Assistant tool on the IRS website to get answers to many of your questions about tax credits, deductions and many more topics.
4. Use a paid preparer rather than the Free File. Even though you can prepare and e-file a tax return for free using IRS Free File, available exclusively on IRS.gov. provided your income was $58,000 or less. Remember the IRS is in the business of collecting as much taxes as possible.
Paid professionals like Creative Tax are in the business of helping you pay fewer taxes. You don’t want to miss any legitimate deductions that you may have. Sometimes it is not just being qualified for a deduction but understanding the proper way to take the deduction that matters.
Having an expert can save you time, hassles and grief,
5. Use Electronic e-file. Electronic filing is the best way to file a tax return. It’s accurate, safe and easy. Last year, more than 122 million taxpayers used IRS e-file. If you owe taxes, you have the option to file early and pay by April 15.
6. Weigh your filing options. You have several options for filing your tax return. You can prepare it yourself or go to a tax preparer. You may be eligible for free, face-to-face help at a Volunteer Income Tax Assistance or Tax Counseling for the Elderly site. Weigh your options and choose the one that works best for you.
Everyone’s situation and circumstances are different. Sometimes you need consultation in order to help you decide the best course of action. Please feel free to call us. We want to build relationships and simple phone call will cost you nothing but could help you immensely
7. Use direct deposit. Combining e-file with direct deposit is the fastest and safest way to get your tax refund.
8. Visit the IRS website 24/7 and Keep This Number Handy (562) 251-1300. IRS.gov is a great place to get everything you need to file your tax return. Visit ‘1040 Central’ for online tools, filing tips, answers to frequently asked questions and IRS forms and publications. Get them all anytime, day or night.
You can also call us Monday through Friday from 9:00 AM to 4:30 PM. We are open all year long or visit our website at http://MyCreativeTax.com .
9. Check out number 17. IRS Publication 17, Your Federal Income Tax, is a complete tax resource. It contains helpful information such as whether you need to file a tax return and how to choose your filing status.
10. Review your return. Mistakes slow down the receipt of your tax refund. Be sure to check all Social Security numbers and math calculations on your return, as these are the most common errors. If you run into a problem, remember the both Creative Tax and IRS is here to help.
One More Quick Tip:. You may have already filed your tax return but maybe you feel like you have money left on the table, or you may have new information. Call us and we can do a review of your Tax Return. We often find money left on the table.
Call us at (562) 251-1300 we can help!