Nobody Wants To be Audited

Nobody Wants To be Audited

st louis tax services

Using one of the St Louis tax services available not only guarantees you against making an error on your tax return, but ensures that you will have help if the IRS audits you. An audit can be time confusing and intrusive, despite the facts that your chances of being audited are generally small. The IRS has various ‘red flags’ that they look for on tax returns, and avoiding these can significantly decrease your chances of being audited. Having higher than average deductions, failing to report all your earned income for that year, and simply appearing to be making too much money are all likely triggers for an audit, although they aren’t the only ones. Claiming a loss on rental property, and claiming large charitable deductions are also red flags, and even forgetting to sign your tax return or putting down the wrong social security number can lead to the dreaded audit. If you are audited, having a professional to help you through the process can be invaluable, and well worth the cost of using a professional preparer.

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