Part 7

Filing Your Return and What Happens After You File

This part is designed to help you—

• Organize your tax data. Whether you plan to prepare your own tax return or have someone else prepare it, you must first gather and organize your tax information.
• In Chapter 46, you will find record-keeping guides for income items and expense deductions.
• Understand how the IRS reviews your return and initiates audit procedures, including information on how the IRS matches your return with reports of distributions to you from banks, corporations, and government agencies.
• Avoid penalties for underpaying your tax. You may avoid penalties for positions taken on your tax return by making certain disclosures, obtaining authoritative support for your position, or showing reasonable cause for a tax underpayment (46.8).
• Understand the factors that might lead to an audit. Your chances of being selected for an examination depend on your income, profession, deductions claimed, and even where you live (48.1).
• Prepare for an audit. Advance preparations and knowing your rights can help support your position (48.4).
• Dispute adverse IRS determinations. You can appeal within the IRS and go to court if you disagree with the IRS audit results. If you win, you may receive attorneys’ fees and other expenses (48.8).
• File a timely refund claim if you have overpaid your tax (47.2).
• File an amended return if you omitted income or claimed excessive deductions on your original return (47.8).

Chapter 46 Filing Your Return

46.1–46.9

Chapter 47 Filing Refund Claims, and Amended Returns

47.1–47.8

Chapter 48 If the IRS Examines Your Return

48.1–48.12