To Learn More
Get more tips on your rights as a taxpayer as well as information on the audit process from IRS Publication 556. Good luck!
You can follow Motley Fool contributor Dan Caplinger on Twitter @DanCaplinger.
To Learn More
Get more tips on your rights as a taxpayer as well as information on the audit process from IRS Publication 556. Good luck!
You can follow Motley Fool contributor Dan Caplinger on Twitter @DanCaplinger.
TurboTax Articles
What to Do After You've Filed an Income Tax Extension
Now that you've bought six extra months by filing an income tax extension, you might be wondering what you need to do between now and October 15, 2013 when your 2012 tax return is due. We've addressed some of the most common questions below. Brought to you by TurboTax.com
Brought to you by TurboTax.com
What Is the Minimum Monthly Payment for an IRS Installment Plan?
Can't afford to pay your income taxes? You may be able to qualify for an installment plan with the Internal Revenue Service. The minimum monthly payment for your plan depends on how much you owe. Brought to you by TurboTax.com
Brought to you by TurboTax.com
Can't File by the Deadline? Top 3 Reasons to File a Tax Extension
The Internal Revenue Service allows taxpayers to file for a six-month extension if they need more time to prepare their tax return. You can obtain a tax extension for any reason; the IRS grants them automatically as long as you complete the proper form on time. Check your state tax laws; some states accept IRS extensions while others require you to file a separate state extension form. Brought to you by TurboTax.com
Brought to you by TurboTax.com
Tax Return Filing and Payment Extensions for the Military
The Internal Revenue Service recognizes the fact that members of the United States armed forces are often deployed outside of the U.S. at tax time and gives many military and support personnel an extension on their tax deadlines. Brought to you by TurboTax.com
Brought to you by TurboTax.com
What Are Deductible Investment Interest Expenses?
In general, you can deduct interest paid on money you borrow to invest, although there are restrictions on how much you can deduct and which investments actually qualify you for the deduction. Brought to you by TurboTax.com
Brought to you by TurboTax.com
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January 30 2013 at 10:00 PM Report abuse Permalink rate up rate down ReplyIn October, we received an invoice from the IRS in the mail.....it was unfathomable, and since wifey had just had surgery that morning, we said "Phock it" and sent 'em their 1400 bucks.........a week later we dug into it, wrote them the clarifying explanation, and last week got a check back with a tidbit of interest.
What I'm trying to say is, if you can afford it, whip the check out immediately and fight it out later - those interest/penalty fees shoved by the IRS would make the Mafia blush.
Heres how to avoid an audit;
1) Don't file taxes
2) Move to Switzerland where US Government can't get a hold of you
YOU cannot !
If you are a US small business you will be audited as IRS made changes they do not inform public about and this President is at war with all small business thinking we are hiding monies and they are taxing us into higher categories now.
iI you get a divorce or have ANY sudden change in your income, YOU will be audited too.
Barter, cash, and off shore accounts. Its the new way of the "great american life"
January 21 2013 at 7:47 PM Report abuse Permalink rate up rate down ReplyLiberal Regresso-Crats have nothing to worry, it's hard to file a 1040 on Government Handouts and Cheese Logs.
January 21 2013 at 10:25 AM Report abuse Permalink +4 rate up rate down ReplyAverage welfare comparrisson to wage earner in America today is like approx. $49,000.00 !!! This should outrage every American who works hard and is being taxed to oblivian to support a lazy entitlement cutlure.
January 27 2013 at 10:42 AM Report abuse Permalink +2 rate up rate down ReplyDon't work. No income, no taxes, no audit.
January 20 2013 at 10:23 PM Report abuse Permalink +4 rate up rate down ReplySet aside the money, then just lie your butt off, You might get away with it. If not just pay them. It's a stupid system. Only people in cartoons should be using this disfunctional tax system. We all deserve better than this.
January 20 2013 at 2:19 PM Report abuse Permalink +4 rate up rate down ReplyThey will search until they find something to disallow. Quick write a check. They have to justify the time they spent burrowing into your records.
January 21 2013 at 7:28 AM Report abuse Permalink +2 rate up rate down ReplyKeeps receipts especially if you itemize.
January 20 2013 at 12:41 PM Report abuse Permalink +4 rate up rate down ReplyNever file taxes, then there's nothing to audit!
January 20 2013 at 12:12 PM Report abuse Permalink -4 rate up rate down Reply
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