The most terrifying thing you can receive after you’ve submitted your taxes is a letter from the IRS informing you that your taxes are being audited. While there is nothing inherently bad about being audited, it still can strike fear in the hearts of even the most stoic tax-payers. Audits are simply the IRS checking your numbers as they are very invested in ensuring that people aren’t cheating on their taxes.

The tax professionals at GI Tax are here to help you get the most out of your tax return, and also help you prepare this important document for the IRS. We make sure that everything is accurate so when it is submitted there’s no chance you’ll be audited. However, when you’re filing yourself, it’s easy to land yourself an audit. Here are a few common things that tip the IRS to an audit.

  • Using round numbers. Nothing costs exactly $200, if you’re writing off something as a business expense, don’t guesstimate the numbers. Round numbers tip the IRS off to something fishy and can land you an audit before you know it.
  • Making errors. Math can be hard, but when you’re preparing and filing your taxes you need to double and triple check your numbers. You’ll still have to pay fines even if it was an honest mistake. Our best advice would be to bring your taxes to a professional at GI Tax and let us crunch the numbers if you’re uncomfortable.
  • Not including income. Forgetting about the side work you did over the year on a 1099 will set off all sorts of alarms at the IRS. It’s important to claim all your income.
  • Claiming a lot of business expenses. While it may be tempting to claim the surfboard you bought as a business expense, after all you did use it in some team building exercises, the IRS likely won’t follow your line of thought. Make sure that your business expenses cannot be disputed and be honest with yourself and the government.

If you find yourself being audited, don’t panic. You have a lot of options. If you’re very worried about mistakes you may have made that could lead to an audit, bring your taxes down to GI Tax. Here if you don’t get a refund it’s FREE.