As reported 16 September, my 2013 federal income tax return was chosen somehow for an audit. After hours of assembling documents and furnishing them to the IRS, the result came in the mail yesterday: I get a refund of $219.00.
I found some deductions I overlooked (which more than compensated for some checks I could not find).
A professor of mine in the MBA program at UNC-Kenan-Flagler once said you can choose to eat well or sleep well – make lots of money by taking shortcuts that cause you to worry, or take a cautious approach that can’t easily be challenged. I have tended toward caution in my own tax affairs, and have wanted my clients to be aware of the cautious approach.
Before filing originally, I didn’t scour my affairs for every possible deduction. Still, I didn’t know that one particular big deduction would come to my rescue.
The best feeling about a refund is that the IRS may not audit me again soon. If their computer targets my return, the result of this audit may indicate that auditing me again may not be worth it.