It’s March and by now most of you are in the midst of the tax filing season. Gathering the data and collating them for filing is tedious enough, but there is also the attending fear of making a mistake that triggers an IRS audit.
We have summarized a few easy to address items that may trigger an audi; by addressing them you may reduce the chance of an avoidable audit. These are particularly relevant to higher income executives, retirees and business owners – the type of client we typically deal with.
I would also add that while an audit is not a desirable outcome, please don’t dread it so much so as to cause yourself needless stress. And if you are diligent about keeping good records as you go through the filing season, you are better armed to respond to an audit query by the IRS.
Good luck and Speedy filing!
Avoiding an IRS audit. (see pdf)