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In a recent interview, leading New York tax attorney, Benjamin Goldburd, partner at Goldburd McCone LLP in New York, revealed common myths about IRS audits that taxpayers shouldn't believe.For more information please visit https://www.goldburdmccone.com
When asked to comment, Goldburd stated, “Many Americans live in fear of getting audited by the IRS and make decisions about how to pay their taxes based on widespread notions. However, many of these fears are unfounded.”
One prominent misconception is that taxpayers who use an e-filing service to complete their returns are more likely to get audited.
“In the past couple of years, e-filing has become an increasingly popular method to file tax returns – so much so that nearly 90% of all taxpayers pay their taxes through e-filing services. In fact, it's been proven that handwritten returns are 20 times more likely to contain errors, and these mistakes tend to attract the attention of the IRS," Goldburd commented.
Similarly, many people incorrectly believe that an amended tax return is more likely to be audited.
“This is patently false. The IRS has even said so itself. The IRS screens both the first and second return, but if you are able to provide a detailed explanation of why you’re correcting a form, then you’ll be less likely to be audited,” he said.
Taxpayers tend not to claim deductions due to the belief that it will lead to a higher chance of being audited.
“Deductions are there to benefit the taxpayer, and the system that scans tax returns will probably not flag a taxpayer simply for claiming several deductions. But a form that has unlikely deductions such as charitable deductions that are more than income reported could raise a red flag among IRS tax auditors," he said.
Many also mistakenly believe that the IRS will show up on their doorstep to seize their assets.
When asked to elaborate, Goldburd explained, “The IRS will not appear out of the blue. If an IRS auditor needs to have a meeting in person, then they will get in touch and schedule a time either at your home or workplace. But keep in mind that the vast majority of audits at 70% occur through mail correspondence.”
Goldburd added that the IRS does not email taxpayers, and any email regarding an IRS audit is probably a scam.
Source: http://RecommendedExperts.biz
Contact Info:
Name: Steven Goldburd
Email: Send Email
Organization: Goldburd McCone LLP
Address: 42 W 38th St #901, New York, NY 10018, USA
Phone: 212-302-9400
Website: https://www.goldburdmccone.com
Source URL: http://RecommendedExperts.biz
Release ID: 462668
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