Avoiding IRS Audits: Key Strategies for a Trouble-Free Tax Season

Thursday, 14 March 2024, 17:30

Learn how to steer clear of tax audits in 2024 by understanding deductions, reporting income accurately, and following essential tax filing rules. With the right knowledge and preparation, you can confidently submit your tax return and avoid the stress of being audited again.

https://store.livarava.com/5511797e-e229-11ee-9671-5254a2021b2b.jpe — Avoiding IRS Audits: Key Strategies for a Trouble-Free Tax Season

Avoiding an IRS Audit: 3 Essential Tips for Tax Season 2024

The idea of a tax audit can be scary. Read on for ways to steer clear of one -- even if you've been audited in the past.

Know which deductions you can and cannot claim

A big reason some tax filers end up getting audited is because they claim deductions they aren't eligible for.

It's a good idea to work with a professional to file your return to avoid making a huge mistake.

Report your deductions to the dollar

When you claim round numbers for your deductions, it tends to raise a red flag.

Take the time to find your receipts and put the actual numbers on your tax return for accuracy.

Make sure to report any income you earned in 2023

Any income you earn is income you're required to list on your taxes.

If you're not sure what income you need to report, log into every financial account you have and see if you have any tax forms available.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.