IRS Audit Red Flags - How to avoid IRS Audit

[@LYFEAccounting]

Watch this awesome video from Krystal next: "Uh Oh...Got an IRS Letter? Here's What to Do" kzbin.info/www/bejne/a6Goiaeef5J5d68

[@theloversmicheal8021]

Thank you bro yeah I'm trying to could u recommend one for estate and litigation?

[@whatheavensaid]

I used to work for a company who represented people during IRS audits. It was scary for me to meet IRS agents at first... but they were actually polite and focused. They are people who have a job to do... not so scary after all, if we just follow their directions. I also have friends who had a lot of tax debt. When they phoned the IRS to work it out, the IRS was happy to work out a payment plan. They don't want to chase people. I hope this helps you. 💖

[@clarrissialindsay5876]

Great job explaining in detail about these "red flags". Your delivery was very professional.

[@trustmebronocap]

Thank you for this video. It is always good to refresh before tax season coming up.

[@lawrenceanthony23]

Keran I really understand the information when u break it down please make more videos and when I retain the services of the company I'd like it if you could help me so I could understand exactly what I'm doing with my taxes so I could feel confident in running my business.

[@TheMoneyInnovator]

"First you jump for joy, second, you owe taxes..." 😭 Great info! Thanks for the video!

[@LYFEAccounting]

Thanks for watching!

[@valexander8891]

I have adopted kids. They requested proof that they are my kids. I sent it all, then they tell me they will review Aug 5th which has come and gone. This held up my child tax credit, EIC, everything. I filed the day Electronic Filing opened up. This is substantially longer than 45 days. This is absolutely crazy! What do you do when they say your kids aren't yours, you prove they are. Is this even for real??? Oddly they didn't say AUDIT until I sent them all of the court adoption documents, BCs, etc... what the heck.

[@ginger6582]

Unfortunately, there may be people out there sharing children to get the child tax credit. Makes it a mess for others.

[@masonparker302]

You did. Video was well organized and without head spinning jargon..

[@kamiaque2970]

You did great, thank you for all the information you've provided 👍

[@LYFEAccounting]

Thank you, hope it all blesses you!

[@rtanaka]

Yes! You did a great job of explaining. Thanks Keran.

[@LYFEAccounting]

Ryan, thank you!

[@ucbwill]

My girlfriend's employer had her fill out hundreds of timesheets for an audit, i think because they didnt have them for the tax year. This doesnt feel legal.

[@refreshlandscapelighting4813]

great video! Q: what abut receiving payments through PayPal or Zelle? are there any issues with those transactions?

[@RochX-7]

Brother, you're great. Appreciate all the insight.

[@LYFEAccounting]

I’m glad you thought so!

[@bestbossfootball1535]

Missed to report $500 gross from Uber. $200 is expenses. $300 is net but still I have $350 deductions. Since its a lost as you can see, should I still file an amendment? thanks brotha

[@jdmans]

another main one is HOME OFFICE...don't declare a home office if possible..it prompts

[@marvinrichardson7673]

Hmmm., So if I'm not a millionaire my chances of being audited go way down. Good to know. I think I'm pretty safe.

[@Mbellelondon]

Great information! Thank you.

[@LYFEAccounting]

Thanks for watching!

[@j.salvadorricosoto3209]

es posible congelar mi traslado de banco pues el actual no tiene la amabilidad de responder mis llamadas asi que decidi cambiarlo a otro segun debo dos añor de IRS sin recibir un centavo de intereses bancarios aclaro no soy recidente de EEUU

[@patriciamckinney2229]

If audited will they accept scanned supporting documents?

[@gggvv3788]

yes

[@tiac8978]

Thank you for this channel so helpful!! I have a question: in December 2020 i wired transferred $12k to my mom in europe through chase bank and then she had to wire transfer it to me back..i keep thinking about it, do you think i will get audited?!

[@fernandoestrada3096]

I had a similar issue. Let me know if you got this solve. Thanks!

[@gggvv3788]

you dont have to if under 16k..consider as a gift.. if under 16k, u dont need to report. if tbeh ask, just say gift

[@shroomsopenminds3623]

So is that 10,000 dollar limit in total for the year or 10k or more for a single transaction?

[@LYFEAccounting]

Usually pertain to a single transaction

[@shroomsopenminds3623]

@@LYFEAccounting okay perfect! Thank you very much.

[@ginger6582]

It's funny how they leave informantion like that out.

[@lintsadvisors358]

"BAHOT BADHIYA", Thats my native transalation for "VERY NICE". Good information.

[@LYFEAccounting]

Thanks for liking

[@alexa574]

Great job, thank you!

[@ssnydess6787]

Thank you! Very useful!

[@tyb1251]

So basically the IRS eats from the front the back and the sides....... understood

[@LYFEAccounting]

Each and every way possible.

[@TraceyLR6]

Well done!

[@AdeAde0224]

Great video

[@mrmultiskill7281]

Thank you

[@terrymcguire8476]

THERE IS NO LAW IN EXISTENCE THAT REQUIRES THE AVERAGE AMERICAN TO FILE OR PAY INCOME TAX.

[@WORLD_OF_M4V3R1CK]

No laws, just lots of agents with guns 😂

[@dnah02]

Tell that to Westley snipes and others who got in hot water for not paying the taxes.

[@terrymcguire8476]

@@dnah02 It is easier to fool people than convince them that they've been fooled.

[@terrymcguire8476]

@@jaym.4611 The reason no law exists is because under the Bill of Rights, it is an unalienable right to earn a wage/ living and the U S Supreme Court has ruled that rights cannot be licensed or taxed. It is also an unalienable right to not be forced into a contract of which filing a return is contracting. Threats of fines, interest, and jail for " willful failure " to file is Coercion which is a Felony under Code of Federal Regulations Title 42 section 3617. This also falls under CONSPIRACY AGAINST RIGHTS -- Felony under U S Code section 242 of Title 18 , CONSPIRACY AGAINST RIGHTS-- Felony under U S Code section 241 of Title 18 , and FEDERALLY PROTECTED ACTIVITIES -- Felony under U S Code section 245 of Title 18. Federal Income Tax applies to non resident aliens living and working in the United States and American citizens living and working abroad. Research U S Court Case Loyd Long vs IRS and the court cases cited within that case. Also, KZbin search, " Ex IRS agents testify that no law exists requiring Americans to file or pay income tax within the United States ". Dave Champion put out a good book several years ago titled, " Income Tax, Shattering the Myths ". I'm sure you won't do any research whatsoever and it's a waste of my time giving you the facts and evidence .

[@Headbanger427]

Al Calpone would've begged to differ with you.

[@ChristopherOBrien000]

Nice job, thank you.

[@muhammadqqureshi6449]

Great Video, Thanks

[@nathanielselvidge4157]

I accidentally didn't save my wife's w2 on my tax return. And just noticed it an hour later! What is the possibility I will be audited or get in trouble? We make a combined income of 50k. I'm so worried

[@sharethesucess5929]

You just have to amend the return and add her income from the W2

[@gggvv3788]

add it as soon as possibe

[@theloversmicheal8021]

I'm trying to find a lawyer, accountant, and build a lawsuit

[@theloversmicheal8021]

hey bro thank you.. question ❓⁉️ what do u do if ur mother stole ur inheritance and u never received it..not a single dollar or notice of it also she shared it among ur family like a trust,life insurance, estate's stocks ira, cryptocurrency valuable property like hundreds of coins and handed them out to a lot of people stored them in different locations exc. plz man I could really use ur advice I wanna begin a lawsuit but before I do...I'm trying to aquire as much knowledge as I can..bc I never actually met my father who meant it for me..but she falsified and forged My signature on a document ..and may be trying to get me in trouble for it... plz man lmk what you think I should begin doing asap I would greatly appreciate it man

[@LYFEAccounting]

Hey, sorry to hear this happened to you. The first step is to talk to a couple of lawyers. They'll let you know if you have a case or not and what the next steps are.

[@waynecmontgomery]

Great job loved your video !!!

[@stevenhaff3332]

Good job!

[@davidroberts6810]

Good video thanks a lot

[@LYFEAccounting]

So nice of you

[@angrycannibal6625]

Good job.

[@dracojensei1141]

Imagine life without uncle sam! We don't even tell our mom how much we make. But re port yiur income to daddy

[@carlosfernandes7872]

Thx man

[@jaraudmcgary2959]

great

[@piedadstoffel5955]

Rich people not paying taxes

[@LYFEAccounting]

Elon musk is expected to pay 11 billion this year...

[@KaliKali216]

@@LYFEAccounting What about Amazon Besos his he going to pay taxes this year or his he going to dink and duck.

[@NatalieHannahq3g]

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.

[@SophiaChloé6f]

Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.

[@MasonJacobo2w]

You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst

[@AidenLiamf7q]

This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation

[@MasonJacobo2w]

My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..

[@AidenLiamf7q]

Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.

[@carlburgett2289]

taxes are illegal any way

[@LYFEAccounting]

haha

[@mtigress4589]

16th Amendment says differently.

[@Kwood10]

Great video & your cute too

[@salpertia]

9.999$

[@EliteChingon]

Credit cash back rewards are considered discounts by the IRS not income, this channel is badly misinformed since I'm not a tax professional and even I Knew that. Blocking channel so I dont get any more misinformation in the future

[@thelmafletcher4769]

You did an amazing job thank u because I've been having some problems with cryptocurrency

[@LYFEAccounting]

I'm glad this helped. Thanks for watching.

[@angbar9075]

No content worth 9:30

[@LYFEAccounting]

??

[@duaineeden8146]

Good job man!