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Michael DiSabatino of Sharp CFO™ offers expert insights to help you unlock your business's full potential by delivering proven strategies for maximizing tax savings, streamlining operations, and driving sustainable growth.
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Ideas to Help Audit Proof Your Return
Ideas to Help Audit Proof Your Return
No one likes the stress involved when your tax return is under the audit spotlight. Here are some ideas to avoid some of the more common audit triggers.
- Report everything that has an informational tax return. If you are like most Americans, you will receive numerous 1099’s, W-2’s, and 1095-A’s in the mail. The IRS receives them too. If your tax return does not meet or exceed this reported income you can count on receiving a notice from the IRS. Some hints:
- Make a list of the forms received last year
- Update the list with any new vendors or employers
Even if you believe you have done everything correctly, audits happen. Should it happen to you please do not hesitate to seek help.