How can you avoid IRS audits? - WNEM TV 5

How can you avoid IRS audits?

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(Source: WNEM) (Source: WNEM)
SAGINAW, MI (WNEM) -

Ready or not, Tax Day is right around the corner. Uncle Sam demands that you settle the score for last year's taxes on the April 18.

Crystal Goodeman at H&R Block said there's one big thing that's keeping tax professionals busy this year, and it has to do with the health care law.

"Well, if you received a 1095A, that's healthcare through the market place, which you could potentially have a credit coming to you if you paid out through that health insurance," Goodeman said. "Now if you received it through your employer then you're covered for the year and you will not face a penalty unless you didn't have it for a couple of months."

Goodeman said there are some tips to prevent any IRS audits.

Report all income that you received over the course of the year.

Carefully document expenses and eligibility for tax benefits.

"A lot of the credits that we do see that are missed regard college education, when you send your child off to college that first year if they didn't have their tuition covered by grants, and they had it by loans or taxpayers funds, then that could be a credit that the taxpayer could be missing out on," Goodeman said.

Also know when and where to get help if need be.

"Everybody always has questions, and nobody ever knows the tax codes 100 percent so it's best if they do reach out," Goodeman said.

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