Stay Out of Hot Water: Four Ways to Avoid IRS Controversy

IRS trouble can change your life – and not in a good way! In fact, the IRS has ruined the lives of countless taxpayers all across the nation. If this sounds like an overstatement, consider the power of the IRS: they have the ability to harass taxpayers over the phone and in person, they can garnish wages and levy on assets without a court order, they can seize property, and in certain circumstances they can even throw taxpayers in jail.

Trust me when I tell you that an IRS controversy is something that you want to avoid at all costs!

Here are four ways that you can reduce the likelihood of drawing unwanted attention from the IRS when filing your taxes. However, if it’s too late and you’re already facing an IRS audit or worse, we can help. Contact us today!

1) Double-check your return to avoid simple mistakes. Simple mathematical errors or even forgetting to sign your return can draw extra attention. Before submitting your tax return, double check it for accuracy. Is your name spelled right? Is your social security number and address listed properly? Have you performed all arithmetic correctly?

2) Don’t conceal income. Nobody likes writing a check to the government, and concealing income may seem like an easy way to reduce your tax liability. But the IRS has many ways of cross-checking to ensure that your income has been properly reported, and if they find that you’ve been concealing income, all sorts of trouble will follow.

3) Keep organized records so that you can document deductions. Whether it is business expenses or personal deductions such as charitable giving, it’s important to keep organized records. This is especially true if you are claiming high levels of deductions. There’s nothing wrong with claiming all that you are entitled to, just be ready to prove that the deductions are legitimate.

4) Don’t miss deadlines. Finally, you can often avoid trouble just by meeting deadlines. File your returns when they are due (or request an extension), and pay on time. Doing so avoids the nasty cycle of penalties, interest, and further IRS attention.

These tips will help you avoid trouble with the IRS. But if it’s too late, we can help get the IRS off your back! Contact us today to learn more.