IRS Survival Tips!
May 1, 2012
Eight IRS Survival Tipsby Rate Nerd on ratenerd.comThe IRS audited 11 percent more returns in 2010 over the year before, and more than double the agency’s pace just eight years earlier. That’s almost 1.6 million individual taxpayers in 2010, and that pace may continue rising as the government works harder to collect every dollar it’s owed under the tax code. If you get a letter from the IRS, don’t take it personally. “The government isn’t accusing you of dishonesty, it just wants to make sure your return is accurate,” says Walbert. To get through an audit as smoothly as possible, follow these common-sense rules. 1. Know your rights. Before your audit, read IRS Publication 1, “Your Rights as a Taxpayer.” 2. Be honest. Lying to the IRS can trigger heavy fines and even jail time.... Continue reading
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