We find it
vital to keep an accurate of our income, contributions, and deductions. In addition, we make sure we use a reputable
accounting firm. We found this helpful when we were audited by the
IRS.
About three
years ago, we received a letter from Internal Revenue Service informing us we owed
taxes. yikes... After calling my husband, I
called Mr. Frazier our accountant in Tennessee. I was upset.
Mr. Frazier was calm.
Here is the
bottom line. We did not owe any taxes. Why were we audited? Was it a random inspection? Did something in
our tax returns warrant a red flag? If individuals contribute 10% of their
income to their churches are they audited more frequently? According to some
financial analysts contributions can raise red flags in the IRS.
I wonder.
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