Turbo tax is a popular software package for filing income taxes accurately in order to avoid a potentially costly IRS audit. Audit letters arriving in the mail can be a significant source of anxiety and stress. Some of these notices are only to call the recipients’ attention to oversights such as a missed signature or a math mistake. More serious IRS letters address discrepancies in reported income or deductions.
In addition to a quality tax preparation software package, tax filers are also advised to gather their needed paperwork ahead of time and to keep a few important numbers in mind. Although the process may seem intimidating at first, TurboTax has plenty of resources on the company’s website available to get newcomers started.
IRS officials often report that most taxpayers using TurboTax are honest about filling out their returns and only make mistakes by oversight. The IRS also has a variety of screening processes to catch those who purposefully submit inaccurate tax information. The decision to audit a certain return often comes from examining certain computer data algorithms. The first main thing that IRS agents will look for in 2012 taxes is the presence of numbers that do not add up or that should not be entered in certain columns. The first step to an audit is known as a review examination in order to verify a submitted return’s overall accuracy. On average, only a small percentage of filed tax returns are subject to audit within a given year.
Related articles
- How Does The IRS Choose Who To Audit? (2012taxes.org)
- Tax Filing Using TurboTax Is Easy (2012tax.org)
