Online Tax Preparation and Filing FAQ

Frequently Asked Questions about Online Tax Preparation and Filing

What is an audit, and do I need audit protection?

If the IRS finds inconsistencies between your tax filing and their records of your income, you may be audited. This means that the government will carefully examine your finances in order to determine whether you underpaid when you initially filed your taxes. If the IRS finds that you do owe additional money, you may potentially have to pay penalties and interest charges on top of the amount that you underpaid in the first place. A tax preparation service will help you avoid errors that could lead to an audit, and if you have audit protection, the tax preparation service will also help you prepare for and manage the entire audit experience. H&R Block, for example, can provide you with an H&R Block agent to represent you in the event of an audit. TurboTax tracks your audit risk, provides tips to reduce your chance of an audit, and give you step-by-step guidance on everything you need to know and do if the IRS contacts you.

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