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More Methods Used To Help Avoid An Audit By The Killer IRS CPA Joe Mastriano.

May 10, 2011 Finance news in Houston,Texas, United States of America

The Killer IRS CPA, Joe Mastriano, explains some more methods used to help avoid a tax audit and invites you to download his book on IRS secrets for FREE. Visit our website for more information.




FOR IMMEDIATE RELEASE
Houston, Texas, United States of America (Free-Press-Release.com) May 10, 2011 -- Keep Your Income Low

Taxpayers making over $100,000 a year tend to get audited more. Some people suggest you divide your income among family members to help avoid an audit. I would caution against assigning income to a family member who obviously didn't earn it, or didn't even work for your company. We know the cases where it is possible to do this.
Income That Do Suspiciously Low

I've seen people report income of $20,000 with mortgage payments of $40,000. Though it may be possible, the IRS often will not give you the benefit of the doubt. If your income doesn't look like it supports your living expenses, make sure you attach a detailed explanation in order to avoid an audit.
Don't Use Round Numbers Too Often

Round numbers imply that you are estimating. This is O.K. in some cases. In others, it sends a signal that you may not have records. A good chance the IRS will feel that your return will produce additional tax revenue for them.
Very Large Charitable Contributions

I've had clients who donated 10-20% of their gross income to their church or charity. They did this during a year that they owed the IRS $25,000. It seemed like they were giving their tax money away to avoid an audit, instead of paying their taxes.

Participation On Tax Scams

This may seem obvious to you, but many people unknowingly file false returns based on things the IRS considers tax scams. If the deduction or refund seems too good to be true, question it! Most people pay 20% or more of their income in federal taxes. If you are low income, have many kids, etc. you may pay less. But if you are unclear why your taxes are below the norm for your situation, then find out why and investigate. We know how to judge if your return look suspicious or not, do you?
Match Your Federal And State Tax Returns

You may be required to file a State or State and City income tax return. Make sure the income and expenses match properly. This is another good reason to use the tax software and hire a CPA.

Even though you may take all the precautions to avoid an audit, it does not mean you won't be selected for one. If you do receive and notice that you account has been reviewed and will be undergoing and audit, make sure you hire a professional. With over 30 years of experience under our belt, the team at Joe Mastiano PC is well equipped to manage your case and promise you the best outcome. Visit our website for additional information by clicking the link below or call us NOW, at (713)774-4467.

More information can be found online at http://www.taxproblem.org/irs-audit/


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