Comments on: How to Avoid a Tax Audit

By: Stephen

Stephen — Wed, 12 May 2010 19:38:05 +0000

Should take a look at http://www.teaspiller.com, too. Good place to find tax experts who can help with audit prevention (and representation if it does happen).

By: nolosoft

nolosoft — Sun, 05 Apr 2009 08:56:49 +0000

Do you mind have a look at TradeMax? NoloSoft TradeMax is a tax software designed for active investors or traders to manage their trade data maximize their gain/loss strategy, prepare their Schedule D. http://www.nolosoft.com.

By: Ken Kaufman

Ken Kaufman — Wed, 28 Jan 2009 00:18:41 +0000

This is good information, but I wish there was more. Small business owners also have some of the greatest opportunities to use the tax code to their advantage, but some people create strategies that push too far into the gray area. It would be nice to hear about which of those strategies triggers and audit and which should be avoided.

By: leza farmer

leza farmer — Tue, 27 Jan 2009 23:39:29 +0000

Great advice for small biz! IRS audits are scary. I like the tip about sending in a check with a $5 payment when you file to avoid penalty!

By: Jeff

Jeff — Tue, 27 Jan 2009 16:57:34 +0000

Thanks for posting this interview – it was very informative. I wanted to point out that you can also eliminate the 25% late filing penalty by filing for a tax extension. The point made is accurate, that an IRS tax extension provides more time to file, but not to pay. However, an IRS approved tax extension will give you 6 more months to file, without having to pay the late filing penalty. This may be a good alternative to rushing your tax return, and potentially submitting with errors. You can e-file for a tax extension in just a few minutes with online solutions like FileLater.com