Category Archives: Audit Alerts

Uh oh. Get Ready. 1040, Line 21- Other Income

Someone with a Magnifying Glass in a blurb about the IRSUnder The Magnifying Glass

The IRS is taking a closer look at 1040’s, specifically Line 21 – OTHER INCOME. They are scrutinizing CoD’s aka “Cancellation of Debt”.  I’ll have more information for you by November. In the meantime, If you think this affects you, give me a call at 619-589-8680.

Audit Alert #1 – Trip Wire – Mileage Logs

January 29 Header for ChildCare Site

Wondering why you got a letter from the IRS?  Could it be your mileage log?  The IRS Is a stickler for details when  it comes to mileage logs.  Did you make sure that your mileage log reflected the day-to-day use and associated expenses for your vehicle(s)?  Read our blog on “What is the most common trip wire to trigger an audit?”