October 2023
The IRS will audit a tax return for many reasons, including bad luck. Math errors, inconsistent information and high deductions might also trigger an audit. While audits can be intimidating, the best way to respond to an audit is with comprehensive and accurate documentation.
If a taxpayer can support their entire tax return with proper documentation, the IRS is far less likely to complain about credits and deductions. Keeping the right documents can also help address errors the IRS makes as well, such as claiming that a return was not filed or that obligations were not paid. But, how do you know what to keep, how to keep it and how long to keep it? Below are a few tips and suggestions to answer these questions.
