Smart Tax Planning

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Smart Tax Planning

by Kevin Myeroff on Jun 24, 2020

Business

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There are inquiries from the IRS that fall short of an official audit. The IRS will handle an estimated 150 million returns this filing season, with the filing deadline set for July 15. As of June 12, the agency had received more than 136.5 million returns and issued 92 million refunds. The average refund is $2,767.

Here are some common things that could prompt the IRS to look more closely at your 2019 return.
1. What are the Odds of an IRS audit?
2. Unreported income
3. Earned income tax credit
4. Large Charitable Deductions
5. Odds and ends

Aired 6/24/2020 WTAM AM 1100

 

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