Wealth Wednesday: Tips for Avoiding an IRS Audit

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  • Double Check Those Home Office Expenses
  • Double-Check Oversize Deductions
  • Report All Income Accurately
  • Stay On the Up-and-Up
  • Check and Re-Check
  • Six Tips
  • Tap Into Free Tax Prep Help
  • Use Tax Software

Report All Income Accurately

Come tax time, it’s easy to forget about that $1,000 side work project you completed last summer or the $1,500 in casino winnings that you took home from Las Vegas. These additional earnings must be reported on top of any W-2 wages and are typically reported directly to the IRS via the 1099-MISC form. You should also get a copy of this form ahead of tax day from every payer, but even if you don’t you will be required to report the income on your tax return. (Photo: Courtesy Internal Revenue Service)

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