Worried about the IRS and the possibility of a dreaded IRS notice appearing in your mailbox? Don’t Worry! Protect Yourself!
Robert W. Wood gives excellent advice with his article in Forbes, “Three (Incredibly Simple) Rules to Keep the IRS Away”. The three simple rules are:
Keep Good Records
Respect Those 1099’s
Keep Business and Personal Separate
Following these rules will protect you from most issues if the IRS comes knocking on your door. Take steps to get organized and be proactive with your business records so you can stop worrying about the IRS. Don’t wait until tax filing season to get your records in order. Organize your documents with your first touch of the paper or electronic transaction. Tackle one piece of paper or electronic transaction at a time and process it completely. Follow a consistent schedule to process your records. Stop viewing paperwork as the enemy…view it as your money!
- Rapper Flavor Flav Gets Bitter Taste Of IRS Lien (forbes.com)
- Waving Red Flags at the IRS? (holtpros.wordpress.com)
- What’s the Difference Between an Audit, Correspondence Audit, and an Adjustment Letter? (turbotax.intuit.com)