from
Dynamic Content Productions
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Writer
Rosemarie_Lennon
Director
Rose Viggiano
Voice Over Artist
Mario Bueno
Music (track 1)
Matt Wiggers
Music (track 2)
Alex Maciel
Music (track 3)
Jonathan Roberts
Music (track 4)
Kyle Hildenbrand
Music (track 5)
Andy Gabrys
Music (track 6)
Edison Music Corp
Actor
columbob
So the IRS wants to have a little chat with you. Don’t make things worse by behaving stupidly at the audit.
Consider hiring someone to represent you at the audit. There’s a good chance the fee will be offset by the money a pro can save you.
Contact the National Association of Enrolled Agents for a tax pro; many are former IRS auditors.
Keep your mouth shut. The biggest mistake people make at audits is providing more information than the auditor asks for, leading to even further scrutiny. Speak only when spoken to, and answer only what has been asked.
Bring only the documentation requested. Do not bring copies of previous returns that are not being audited, or you’ll open yourself up to questions about those, too.
Remain polite by reminding yourself that the auditor is just doing his or her job.
If another return becomes due while you’re undergoing an audit, request an extension. Otherwise, it may be dissected, too.
If you end up owing money—which the majority of taxpayers who are audited do—appeal the decision. Roughly half of people who do get their penalties reduced.
Never follow up if you don’t hear anything after the audit. Auditors have 28 months from the time you filed your return to render a decision. By bugging them, you may push them to complete an audit that would have died on the vine.
When preparing your returns in the future, avoid these red flags: charitable contributions that exceed 5% of your income, taking undeserved tax credits, business expenses that seem excessive compared to your earnings, and careless errors like adding a column wrong or forgetting to attach a 1099.
Fewer than 2% of individual income tax returns are audited.
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Video is in The Tax Man Cometh (14 videos)
Comments (4)
I am definitely bringing my guitar if I ever get audited. I can totally see how that would help prevent me from volunteering too much information. Not only that, but if 50 people a day were to walk into an audit and sing a bar of Alice's Restaurant, they may think it's a movement. The Alice's Restaurant Anti-Massacre and Audit Movement. Go team!
over 3 years ago by scopius
Been there, done that, and lived to tell the audit tale. This video is "right on". Seven simple steps which, if followed to the letter, will definitely help a person survive the tax audit.
over 3 years ago by TripleSkilled
Great video, Rosie !!!!
over 3 years ago by stefanfalke
Thanks Stefan. I love the new photographs on your site. "Images of The King". Awesome Elvis shots. Especially that lady with the flower. You would think he was the real deal.
over 3 years ago by Dynamic
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