All too often, taxpayers think that only rich people and those who are dishonest are subject to IRS tax audit triggers. This is not true. The reality is that all of us are subject to an audit.
Siesta Key, FL (PRWEB) November 05, 2013
IRS tax audit triggers are something many folks worry about. The tax audit system is surrounded by mystery and it is a mystery everyone would like to crack. Nobody wants a letter announcing that they have been selected for an audit. This article reviews the items that seem to trigger an audit. It also defines the Discriminant Information Function or DIF, which is one of the main ways the IRS uses to pick who they audit. For many hard working Americans, taxes are just one of those things that cannot be avoided and rules are constantly changing. Fearing an audit is one reason many Americans do not take their deserved tax credits and deductions.
“Being smart and taking advantage of every tax credit and deduction is an important money saving strategy, that most Americans need to use.” say Lee Phillips. “Knowing the laws, what can and can’t be used, can mean the difference between having a few extra thousand dollars to spend doing something fun with the family or scrimping by.”
All too often, taxpayers think that only rich people and those who are dishonest are subject to IRS tax audit triggers. This is not true. It is also false that filing a late return or hand writing your return will help forestall an audit. The reality is that all of us are subject to an audit. What tax payers do on their return can really help avoid the audit.
Mr. Phillips serves as a counselor to the Supreme Court of the United States. He is the author of 11 books, including his latest book Protecting Your Financial Future. He has written hundreds of articles for professional people to assist them in finding various strategies to use the law to protect their property, save taxes and make more money. He has given addresses at thousands of business seminars. He enjoys helping people apply the law, not only to provide asset protection and estate planning, but to use it to structure businesses and save taxes, helping individuals achieve success.
LegaLees was founded in 1982 by Lee R. Phillips. It is a legal self-help publishing company. It produces products designed to help people understand the law. Based on his own personal experiences, Mr. Phillips realized that people needed to be able to understand how the law works so they can direct their own legal professionals. He also saw that people who want to do their own legal work need to be shown how, not just handed a fill-in-the blank form. LegaLees has designed many products to help individuals structure their personal and business affairs. All of the products help the clients protect assets and prevent legal disasters that can strike at any time.