Part 7/9:
Additional Tips for Reducing Audit Risk
Be Honest and Accurate: Overvaluing deductions or overstating income can backfire. Be truthful and precise.
Organize Your Records: Keep supporting documentation organized for at least three to five years, as the IRS can audit within this window.
Consult Professionals: If using a CPA or tax preparer, remember that you’re responsible for all information on your return. Ensure they have all necessary documents and review the final return carefully.