Keep records of all your deductions
Sometimes, the hardest part of taxation is knowing that at some point you might have to deal with the IRS. Taxpayers dread the IRS, even if their records are all in perfect order, says Haywood.
“Most audits I have seen — and there have not been many — are now handled through the mail, where the IRS asks for documentation for a deduction,” he adds. And in most cases, as explained by Haywood, the IRS asks for substantiating papers for deductions that are particularly high. Whatever the case, if you have properly documented all your deductions, there’s no reason for you not to take the deduction.
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