I Was Selected for an IRS Audit 5 STRATEGIES TO PREPARE YOU
3. Know your rights. The audit is like a small trial, so it’s crucial you know your rights as a taxpayer. Look through IRS Publication 1, which explains the Taxpayers’ Bill of Rights before your audit. Consult a tax pro to assist you if you’re still unsure about how the audit works. 4. Don’t host the audit. Keep the IRS from holding the audit at your business or home. They could ask for additional documents because you can say that the extra records are at your home or business. Instead, go to the IRS or have a tax pro handle it. 5. Don’t volunteer information. You may be tempted to give the audit every document you have, but don’t provide anything unless asked. Leave any additional records and items at home if they aren’t requested. In
“You’ve been selected for an IRS audit” is a sentence that will terrify almost anyone. No one looks forward to being audited because the process can be very stressful. Thankfully, you can use these five strategies to survive your IRS audit and get the best possible outcome. 1. Don’t forget your notice deadline. When you open your mailbox and see your audit notice, you have 30 days to respond to it. It’s imperative that you respond before your deadline. The IRS can penalize you if you don’t acknowledge your notice. 2. Ask for additional time if needed. You want to ensure that you aren’t missing any receipts or other important records. Postponing your audit can work to your advantage because it gives you more time to collect the necessary documents. Achieving financial security and success doesn’t always have an easy answer. Our team at Capital Advisory Group is dedicated to helping you protect your wealth, and while doing so, you may have the following questions: • What are the rules when investing in cryptocurrency? • Should I retire during a high inflationary period? • Which form of investing is best for me — active or passive? • What do I need to know if I’m retiring this year? If you are curious about any of the above questions, please call Capital Advisory Group today at (636) 394-5524! Have Questions? We Have Answers!
addition, bring copies of your documents, not the originals. You don’t want to lose these records because the IRS isn’t responsible for lost documents in their possession. Just because you were selected for an IRS audit doesn’t mean you are being accused of a crime. They simply want to ensure your tax returns and documents are accurate. If you have questions about the IRS, tax returns, or audits, allow your friends at Capital Advisory to help. We will be happy to assist you and help you get the best possible outcome from your audit.
Creamy Baked Pumpkin Risotto
Ingredients
• 5 cups of low-sodium chicken or vegetable broth • 2 cups Arborio rice • 2 cups of pumpkin, diced • 1 1/2 cups canned pumpkin purée • 1/2 yellow onion, minced
• Salt, to taste • Pepper, to taste • 1/2 cup fresh basil, chopped • 1/4 cup grated Parmesan cheese • 2 tbsp mascarpone cheese • 2 tbsp olive oil
Directions
1. Heat the oven to 400 F and arrange a rack in the middle. 2. In a 3-quart baking dish, combine broth, rice, diced and puréed pumpkin, and onion. 3. Season with salt and pepper, then stir until evenly combined. 4. Cover tightly with aluminum foil and bake until water has been absorbed and rice granules are puffed. 5. Remove from the oven and stir in basil, grated Parmesan cheese, mascarpone cheese, and olive oil.
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