Last month, we covered three of the most common miscues that may get you audited. As you will remember, we pointed out that when your tax return doesn’t match what a third-party reported to the IRS, you could be in for one of those dreaded “uh-oh” letters from Uncle Sam. Another one was if you were to ignore repeated letters from the IRS how that could be detrimental to your wallet’s health. Finally, we pointed out that if you were to deduct items that your employer could have reimbursed you for, the IRS will likely catch that and deny your deductions.
This month, we will cover three more items on your return that could cause tax heartburn. Remember that there are tax antacids that can neutralize them and we will talk about them as well. And even though Tax Day has come and gone, this information will help you in the years to come as you pursue your acting dreams.
1. Incorrectly claiming charitable donations.Everyone likes to be charitable, right? But even that can get you in the IRS crosshairs if you’re not careful.
The IRS will often audit tax returns with large charitable contributions. If your deductions appear to be disproportionally large compared to your income, or if you fail to
Last month, we covered three of the most common miscues that may get you audited. As you will remember, we pointed out that when your tax return doesn’t match what a third-party reported to the IRS, you could be in for one of those dreaded “uh-oh” letters from Uncle Sam. Another one was if you were to ignore repeated letters from the IRS how that could be detrimental to your wallet’s health. Finally, we pointed out that if you were to deduct items that your employer could have reimbursed you for, the IRS will likely catch that and deny your deductions.
This month, we will cover three more items on your return that could cause tax heartburn. Remember that there are tax antacids that can neutralize them and we will talk about them as well. And even though Tax Day has come and gone, this information will help you in the years to come as you pursue your acting dreams.
1. Incorrectly claiming charitable donations.Everyone likes to be charitable, right? But even that can get you in the IRS crosshairs if you’re not careful.
The IRS will often audit tax returns with large charitable contributions. If your deductions appear to be disproportionally large compared to your income, or if you fail to
Leave a Reply