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irs audit     Haste makes waste. Most of us have heard this old adage before. But I grew up with this twist on it. “The hurried-er I go, the behind-er I get.” Why do I say this?  I don’t want you to waste time or money with costly mistakes on your tax returns in these busy last few weeks before April 15th. I am adding my slant to some of the Top Tax Time Tips offered by The Internal Revenue Service.       Three Important Steps 1. Gather your records. Round up your receipts, canceled checks and other documents that support the entries you make on your tax returns. It is always helpful to have everything close by. You don’t want to lose your place in preparing your tax return by having to stop and go look for something in the middle of this once-a-year important responsibility.   2. Report all your income. Leave nothing out. You will need ALL of your W2 forms and 1099 income statements. Income is not just wages and other compensation earned. Income is also interest and dividends, social security benefits, pension benefits, gambling winnings, sales of assets and more. What money did you receive? All income is taxable unless specifically excluded by law.   3. Review your tax return before you file. Double check your entries. Is your name spelled correctly? Is your address entered correctly? Did you include your unit number, suite number, apartment number? Is your zip code correct?  Are you using the proper filing status? Are you qualified to claim the dependent you have listed? Did you leave anything blank where some kind of entry belongs?     Important Tips Math errors are common on hand-written returns. Take your time. Check your calculations. Bookkeepers are trained to add their column of numbers twice. If you get the same answer twice, it is probably correct.   Are you due a refund? Direct deposit is faster and safer than waiting for a check mailed to your address. Just refer to the numbers on the bottom of your check for the routing number of your bank and the number of your checking account.   Do you owe the IRS? File your tax return now and pay as much as you can before April 15th. If you owe more tax after April 15th, IRS will send you a bill. That bill will also  include interest. It might even include a little penalty for paying your taxes late.   Should I e-file My Return? Is it really better to file electronically? I think so. I’ve been filing returns electronically for myself and for my clients since 1988. As a tax professional, I like the reduction in errors e-filing offers. When a taxpayer’s or dependent’s name and social security number do not match, IRS rejects the return. When an employer’s name and entity identification number do not match, IRS rejects the return. We get to fix those errors and file a correct original return.   Using a computer and reliable software to prepare the tax return has eliminated many math and calculation errors that people make when using pencil and paper. Software is just a tool. And a tool is only as good as the operator. Take advantage of all the help you can get. If you don’t have your own tax advisor to help you understand your personal tax situation, consider calling the IRS toll-free tax assistance line at 1-800-829-1040. Be prepared to wait. Ask your complete question and take notes of the answer you receive.   To your lowest legal tax, Nellie T Williams, EA
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