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My dad always told me to keep a physical folder for tax stuff, and I finally get it.
I used to just toss receipts in a drawer, but last year's audit was a nightmare. Having everything sorted in a labeled folder from H&R Block saved me hours of panic. Anyone have a better system than the basic accordion file?
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nancy5241mo ago
I had an audit three years back and it was mostly just them asking for two more utility bills. The whole thing took maybe twenty minutes on the phone. Are audits really that bad for most people, or do we just hear the horror stories? What exactly did they put you through?
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logan7051mo agoMost Upvoted
Yeah, I used to think the same thing honestly. I figured people just blew those horror stories way out of proportion. But then I got audited myself a couple years ago and it changed my whole view of things. Instead of a quick phone call they wanted me to send in copies of every receipt from like two years of side work I did for a neighbor. It turned into this whole back and forth over email that lasted weeks and I had to dig through shoeboxes full of old paperwork. So I guess it really just depends on who you get and what they're looking at. Some people get off easy while others get the full treatment.
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