Keep The IRS Out Of Your Life By Avoiding A Tax Audit. If You Live In Idaho Falls, We Can Help!

The proverbial IRS taxman is the last person you want darkening your doorway. The IRS has reported that 1 in 200 taxpayers has a chance of being audited every year. Keep yourself or your business out of those statistics-here are some tips!

Ways You Can Avoid A Tax Audit

Luckily, there are ways you can reduce your chances of being audited. Here are a few to be aware of:

• Make sure you computations and figures are correct
• Keep receipts and get appraisals for all charitable contributions of $250 or more
• Fill out tax forms completely and carefully and leave nothing blank
• Keep copies of your returns for several years
• E-file if possible

Let’s discuss these a bit more. You want your numbers to be right. The IRS uses computers to cross check your returns with any other information that it has for you, from banks, employers, etc. So be sure you have accounted for everything and that your numbers match. Otherwise you could be flagged for an audit.

Charitable contributions can change from year to year, and if your tax return is noticeably different from last years, the IRS will want to know why. Save all of your contribution receipts. You should also include an explanation (in the form of canceled checks, receipts, etc).

Be sure to fill out tax forms completely and leave nothing blank. Don’t leave anything for the IRS to assume or wonder about. The computers will flag any discrepancies in math. You want to draw little or no attention to your return, so if it sails smoothly past the computers and the agents, that’s a good thing.

Be sure to keep copies of several years returns. The IRS can audit you from 3-7 years back for discrepancies. Be sure you are able to defend yourself by keeping your returns.

E-file if you can. The error rate for a paper return is 21% and the rate for e-filing is 0.5%. Less errors equal less flagging and attention from the IRS. The accountants and tax preparers at Poston, Denney & Killpack PLLC in Idaho Falls are familiar with these and other ways to avoid a tax audit. They can help you prepare your taxes, tax planning, and also helping you with any problems you may encounter with the IRS should you be audited. They are located In Idaho Falls and if you are trying to avoid or facing a tax audit, Poston, Denney & Killpack PLLC would love to help you maneuver through it! They are affordable, experienced and ready to help you this tax season avoid those IRS agents and their audits. In Idaho Falls call us at (208) 522-0886.