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4 red flags for an IRS tax audit — and how to avoid the ‘audit lottery,’ according to tax pros
CNBC ^ | FEB 13 20241:49 PM EST | Kate Dore

Posted on 02/15/2024 7:47:09 AM PST by Red Badger

click here to read article


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To: V_TWIN

Several ways:

Choose as applicable;

1. I am the only ‘bread winner’ in the family.

2. My job doesn’t pay for jury duty.

3. My invalid spouse needs constant care.

4. I am a single mother of a preschooler.

5. I have no transportation / driver’s license.

6. I am a convicted felon.

7. This guy is guilty as hell!.................


21 posted on 02/15/2024 8:19:33 AM PST by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)
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To: Red Badger

8. I am a big RUSH Limbaugh and Trump fan.


22 posted on 02/15/2024 8:21:24 AM PST by 1Old Pro
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To: Red Badger

#8

I wear my “you’ll have to pry my gun from my cold dead hands” T shirt to court. 😁


23 posted on 02/15/2024 8:25:37 AM PST by V_TWIN (America...so great even the people that hate it refuse to leave!)
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To: gitmo

I retired six years ago. I screwed up last year and paid $238 in federal taxes. That’s the first since I retired. It’s almost worth getting old and dying.


24 posted on 02/15/2024 8:28:19 AM PST by hardspunned (Former DC GOP globalist stooge)
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To: V_TWIN

Not here you won’t.

Here they tell you in the letter that you must wear a suit or ‘business attire’....................


25 posted on 02/15/2024 8:29:41 AM PST by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)
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To: dfwgator

“If you have 401Ks or IRAs, you have to figure out how to minimize your required distributions to keep you in the lower tax bracket.”

indeed ... i make “whatif” copies of the current year’s H&R Block returns and then juggle possible withdrawal amounts for the next year to stay inside the 12% bracket ...

just came up with a new wrinkle too: withdraw at the end of the year instead of the beginning so any dividend/interest remains tax deferred ... that can add up to good tax savings when you consider that short-term Fed bond funds like schwab’s SNOXX yields 5% per annum ...

next year, though, i face minimum withdrawal amounts due to age ...


26 posted on 02/15/2024 8:31:57 AM PST by catnipman (A Vote For The Lesser Of Two Evils Still Counts As A Vote For Evil)
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To: Red Badger

I write the check out to Donald Duck. It’s always cashed.


27 posted on 02/15/2024 8:33:43 AM PST by Track9 (Matches for sale.. get your matches!)
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To: gitmo

Lesson: Never retire.


28 posted on 02/15/2024 8:34:17 AM PST by Lazamataz (Laz 2005: "First, we beat the Soviet Union. Then we became them.")
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To: Track9

Well, they are a Mickey Mouse outfit.............


29 posted on 02/15/2024 8:36:48 AM PST by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)
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To: gitmo
I retired January of 2023. This is going to be the most complex tax return I have ever seen. I hope I don’t forget something.

I retired from active duty military in Sept of 2009. I forgot to include my retirement checks from Sep-Dec for that tax year filing. The IRS was not happy and screwed with me for 4 years after.

30 posted on 02/15/2024 8:36:53 AM PST by Mr.Unique (My boss wants me to sign up for a 401K. No way I'm running that far! )
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To: dfwgator

btw, the other advantage to withdrawing at the end of the year is to withhold for next year’s tax to avoid the small withholding penalty, yet lose only 4 months of deferred interest on the withheld amount during the first quarter of the next year ...


31 posted on 02/15/2024 8:39:20 AM PST by catnipman (A Vote For The Lesser Of Two Evils Still Counts As A Vote For Evil)
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To: V_TWIN

“Because I got one of those infernal things yesterday.”

if it’s a criminal case, it’s a VERY instructive experience, and you always have the chance to vote for jury nullification if the fascists are trying railroad some poor slob ...


32 posted on 02/15/2024 8:42:17 AM PST by catnipman (A Vote For The Lesser Of Two Evils Still Counts As A Vote For Evil)
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To: Lockbox

I wrote “Hunter Biden” on my laptop granting it complete protection from FBI searches and warrants.


33 posted on 02/15/2024 8:42:59 AM PST by Cold_Red_Steel
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To: Red Badger; FRiends

I was doing well up until 2023. New ‘threshold for filing’ is $1,954.00 lower than what my SS was this year with the two tiny ‘bumps’ we’ve gotten in the past few years in SS which is my only income.

Grrrr! It was fun while it lasted!

Well, I can write off my charitable donations at least...which will trigger an audit I’m sure. *Rolleyes*

Been nice knowing you all! ;)


34 posted on 02/15/2024 8:44:11 AM PST by Diana in Wisconsin (I don't have, 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set. )
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To: cgbg

“..Plan B—during voir dire just say you want to chop the hands off of shoplifters or other thieves. That should get you disqualified....”

LOL....

Plan C: tell em you’re a supporter of the death penalty, a member of the KKIK or a member of the John Birch Society. Seems to work most of the time....LOL.


35 posted on 02/15/2024 8:44:37 AM PST by lgjhn23 ("On the 8th day, Satan created the progressive liberal to destroy all the good that God created..." )
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To: Red Badger

“Here they tell you in the letter that you must wear a suit or ‘business attire’”

well, there’s always the “My Cousin Vinny” attire that meets the letter of the requirement, if not the spirit ...


36 posted on 02/15/2024 8:45:13 AM PST by catnipman (A Vote For The Lesser Of Two Evils Still Counts As A Vote For Evil)
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To: Red Badger

In MA, it’s one day/one trial.

Must of the common excuses will get you laughed at.


37 posted on 02/15/2024 8:46:34 AM PST by Vermont Lt (Don’t vote for anyone over 70 years old. Get rid of the geriatric politicians.)
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To: Red Badger

I’ve been called 4 times now.

The summons is very clear as to what atire is prohibited.

The last time, every rule about clothing vas violated by someone.


38 posted on 02/15/2024 8:49:11 AM PST by V_TWIN (America...so great even the people that hate it refuse to leave!)
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To: V_TWIN

Here, minimum is button up shirt, tie, dress pants.............


39 posted on 02/15/2024 8:50:58 AM PST by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)
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To: catnipman

This is my 4th summons.

I sat on a jury in 2015 for a burglary.

It’s a pain.


40 posted on 02/15/2024 8:51:58 AM PST by V_TWIN (America...so great even the people that hate it refuse to leave!)
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