Audit fears loom large for many filers, but understanding how audits work can mitigate this anxiety. The IRS doesn’t randomly select; they identify red flags. But what’s not said could be your advantage…
Common triggers include withholding too little, claiming large charitable donations, or reporting suspiciously high expenses. A lesser-known factor might be lurking in your return…
File everything accurately and on time, but also keep meticulous records to substantiate deductions and credits. Understanding this approach could avoid unwelcome scrutiny. But that’s not the entire picture…
Being strategic involves knowing when to amend past returns voluntarily. Surprisingly, this proactive move often results in favorable outcomes. But an intriguing alternative tactic exists…