“If you are in the 22% marginal tax bracket, you are paying taxes on their capital gains and dividends,” Rob Burnette, financial and investment advisor at Outlook Financial Center LLC, says.
“Also, make sure you sign your return before sending,” said financial advisor and professional tax preparer Rob Burnette of Outlook Financial Center. An unsigned tax return isn't valid, the IRS says.
“They will insist on cooperation with their request, and [say that] any noncompliance may result in a warrant being issued for your arrest, or other fines and penalties,” said Rob Burnette, professional tax preparer at Outlook Financial Center in Troy, Ohio.
“Your reasons need to be outstanding, and relevant documentation and proof must be provided,” said Rob Burnette, professional tax preparer at Outlook Financial Center in Troy, Ohio.
Rob Burnette, an independent advisor and tax return preparer at Outlook Financial Center in Troy, Ohio, who is registered with the IRS, said that for taxpayers who take the DIY approach and "blindly use software," basic human error is the biggest pitfall.
“The documents need to be reviewed to determine if they will change the tax calculations,” said Rob Burnette, CEO at Outlook Financial Center in Troy, Ohio.