Though most tax returns are accepted as filed, bad math and certain patterns can prompt a deeper look.
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For the average taxpayer, you’re more likely to get one of these letters or a math error notice, rather than an audit, said IRS spokesman Eric Smith. After hyperventilating, I calmed down enough to do some reporting and found the source of the error. A media company that I had done some television work for had a glitch in its internal accounting system and, as a result, it incorrectly generated a 1099 under my name and Social Security number that was meant for a famous music artist. “If you do get a letter, please open it right away and reply promptly,” Smith said. “We’re now making that easier too.
“A common misconception is that you can write off the full cost of a vacation by just conducting a minor piece of business, or deduct the full cost of a car with only rare or occasional business use,” Smith said. “Neither of these is true.”). “An ordinary expense is one that is common and accepted in your field of business, trade, or profession. A necessary expense is one that is helpful and appropriate for your business, trade, or profession.
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