00:00If you're like me, you have no idea how the IRS works, but you still wish it just didn't.
00:05Whether you're making good money or not, we all fear an IRS tax audit,
00:09though the truth is the likelihood of that happening are as slim as getting hit by lightning.
00:14That being said, if you're walking in a storm holding a metal rod, you're upping your chances,
00:19so here are a few tax equivalents.
00:21Round numbers.
00:22According to CNBC, when claiming tax breaks, it's important to use accurate numbers rather than estimates on your return.
00:30Experts say round numbers indicate you're estimating.
00:33Missing income.
00:34Your tax return must match the income reported by companies and financial institutions.
00:39If you hurried and wanted to get your taxes over with in January,
00:42you might have missed a 1099 or two because it takes time for companies to process them and send them
00:48out.
00:49Depositing or spending a lot of cash.
00:51According to Finance Buzz, you're supposed to report all the income you've received from all sources.
00:57When you deposit or spend a lot of money, the IRS wants to know where that money came from.
01:02Be sure to document your sources and declare all of it.
01:05It comes down to this.
01:07Document everything.
01:09Keeping receipts is not what I would call a fun activity,
01:12but it seems to be a necessary evil to keep the IRS off our backs, at least for another year.
01:18This is going to be a hell of a good deal of money.van
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