The word audit can strike fear in the heart of anyone filing taxes. The thought of having the IRS looking over your taxes with a fine-tooth comb can be an unsettling process. There are ways you can lessen the likelihood of an audit and breathe a little easier during tax season.
1. Careful and Meticulous Deductions
Those individuals that are self-employed or like to itemize deductions, need to be meticulous when doing so. Make sure that each deduction is accounted for and that you have the receipts or other proof when listing them.
2. Work with an Accountant
Having a licensed accountant from The United CPA Association looking over your taxes and paperwork can reduce the likelihood of making simple mistakes that could result in an audit. An accountant can make sure all your deductions and numbers line up properly with all receipts and applicable forms.
3. Double Check All Calculations
When doing the math on your taxes, make sure to take your time and do each calculation carefully. Reducing simple math miscalculations can lower the likelihood of being red-flagged for an audit.
When doing your taxes, take your time and be careful with each deduction and calculation. Although some audits are simple luck of the draw, if you follow the tips above, you may lower your risk of being audited.