As leaders providing IRS audit defense services we know that a tax audit is something that questions your integrity. It is a review of your finances to determine whether you have paid the correct amount of tax. You could call it an investigation of sorts. Tax audits are generally very worrying for businesses who have been involved in some kind of financial irregularities. By rule of law you are required to have your finances audited every year. With a bit of guidance you can avoid a stressful audit and stay clear of trouble. Here are a few tips for IRS tax audit help.
IRS Audit Help Tip 1 – File your Taxes on time
Always file your taxes on time so that you don’t need tax problems help later. Never delay them because later on you might forget and the deadline may pass. This also shows that you follow the rules and adhere to the law. Those who don’t file taxes or file them late are subject to scrutiny from IRS officials later on.
IRS Audit Help Tip 2 – Hire Professional Services
We all need help with our finances especially at the time of filing taxes. If you have no clue about how to get started then best seek professional assistance. A financial expert will ensure that you get the minimum amount of legal deductions. But remember that even though someone else will fill the form you are the one who will have to face the music. So always choose a reliable accounting service for IRS tax audit help.
IRS Audit Help Tip 3 – Donations and Charity
The IRS also strictly scrutinizes any donations that you make so be very careful when you file your taxes. Many taxpayers claim to be extraordinarily generous with some even showing 10% of their income as charity fund. These are the sort of irregularities that IRS officials will look to penalize. If you do not have proofs then do not take such actions.
IRS Audit Help Tip 4 – Track Bank Transfers
IRS tax audit help experts believe that you must always keep track of your finances. You should know the amount of money coming in or going out of your account. If you have multiple accounts then do keep records so that at the time of filing taxes you have evidence.
IRS Audit Help Tip 5 – Unrealistic Deductions
If your tax return file shows unrealistic deductions from your income then you could face some scrutiny unless you have proof. Unrealistic deductions are always a red flag for auditors and it indicates to them that something is being hidden. If you state that your business is making losses for the past few years then the auditor might want to know if you are still in business.
IRS Audit Help Tip 6 – Report All Income
Always report all your income. Don’t leave any of your earnings hidden or else you would be inviting an investigation from the IRS. The authorities can obtain any hidden data from the banks and other financial institutions so it’s best that you don’t keep anything hidden.
A tax audit is very much avoidable according to IRS tax audit help experts. Even if you do get audited then make sure that everything is in the appropriate order so that the auditors can’t penalize you.
If you need more information about our accounting and tax services, please contact us at 407-344-1012. Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years. Our Orlando accounting firm has its main offices in Kissimmee, FL. We serve the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, and Hunters Creek, FL. Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin numbers, incorporations, and non profit 501c3 tax exempt status applications.