Did you know forgetting just one 1099 form on your 1040 return will land you in an IRS audit? How do you make sure everything syncs with what the IRS has on you?

I’ve done a YouTube video on using an IRS power of attorney to let your tax preparer look at all the information the IRS has in your IRS tax file.

If your accountant (tax dude) hasn’t asked for an IRS power of attorney, maybe you should get a new tax dude. By syncing your 1040 with what the IRS is showing in your tax file, you cut your chances of an audit significantly.

In fact, your agent (the person you appoint in your power of attorney) will receive immediate notice of any action the IRS takes on your account. They will know weeks before you actually receive any notice from the IRS.

If you have set up an ID.ME account (another YouTube video I have done), you can look at all this information yourself. You need to double check what the IRS has on you. You can see if your return has been audited, you can see every action the IRS takes with your account.

A family didn’t know if their dementia parent had filed returns in past years or not, so we simply got an IRS power of attorney from the family and then we could tell them exactly what had happened. We could easily file the federal returns, because we could see every scrap of information the IRS had for each year. The family didn’t have to go back to look for past 1099s or anything.

Watch my YouTube video on the IRS power of attorney you should be using.

Lee Phillips

PS Don’t forget to register for the two day boot camp October 22 and 23. Ben and I will go over asset protection and tax techniques head to toe. You can register here.