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Reduce your chance of IRS audit

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  • Reduce your chance of IRS audit

    Thought readers might be interested in my article on PMD this week. While you should never forgo a deduction or tax interpretation that you are entitled to and is in your favor, knowing what makes your return stand out can help ensure that you have adequate documentation in the event your return is pulled.

    Also, if you self-file using TT or something similar, you may not be aware that you can send an explanation of unusual items or deductions that fall outside the norm.

    • Use Form 8453 in most cases and attach pertinent documentation. The 8453 must be snail-mailed, even if you e-filed your income tax return.

    • You can also paper file and attach receipts and a written explanation if 8453 does not cover your particular issue.


    Of course, if you are in a situation where you believe additional explanation is needed, you probably should consult with a tax professional. Be sure it is a person who is aware that this form exists and can help you determine the wisdom of including or omitting it.
    Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087
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