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Are You Being Audited For Mileage?
Have you received a notice about an IRS audit in the next 30 days pertaining to your mileage tax return? Perhaps you don’t have the documentation to back up your claims, or your old logs are insufficient. An IRS audit without a mileage log or with missing documents can be a real headache, but we’ve got you covered.
WHAT HAPPENS AT AN IRS AUDIT?
When you are being audited by the IRS for mileage, they typically contact you by mail, to which you have 30 days to respond. If the IRS did not accept the mileage log you had handed in, you need to get your paperwork ready.Whether you’re asmall business owner,self-employed or the car is for personal use, you will have to come up with an IRS-Proof mileage log that matches your claimed deductions.
THE DEVIL IS IN THE DETAILS
Would your Excel sheets/templates/samples/paper logs as mileage logs hold up during your audit? Handing in inaccurate mileage logs may result in a fine from the IRS.According to the average business miles claimed on taxes, the amount of it can be huge.
TIME IS OF THE ESSENCE
You need supporting IRS-Proof mileage logs for both the standard mileage method and the actual expense method to claim a vehicle deduction. If your claim is audited, the IRS will expect you to have precise mileage logs. It’s worth the effort, though: MileageWise users can claim $1,000s every year
HOW TO PROVE MILEAGE TO IRS?
Whether you have a lost or incomplete mileage log, MileageWise is your go-to software. It retrospectively monitors the applicable law and regulations in place to help youreconstruct your past trips. Creating a flawless online mileage log with MileageWise takes only 7 minutes/month. Get the most out of your income tax savings with us!
AN IRS-PROOF MILEAGE LOG
A mileage log is sufficient if it includes themileage, theaddresses, thedates, and thepurposes(e.g. business meetings, personal shopping) for each trip. Furthermore, you’ll need thetotal mileage for the yearand theodometer readings at the start & the end of the year – for the latter, it’s suggested that you log your odometer reading at the start of each month. If your mileage log contains all these details and the numbers match, you’re good to file taxes to the IRS.
“ARE MILEAGEWISE LOGS IRS-PROOF?”
Our AI Wizard Technology gives you recommendations for your forgotten trips and auto-populates them into your log. The software’sbuilt-in IRS auditorchecks and corrects 70 logical conflicts before you can print your mileage log, to ensure that it meets all of the IRS mileage log requirements.
Mileage Tracker App
This mileage tracker app knows everything other mileage trackers know. Plus, you can create mileage logs from scratch or pieces to support your past mileage claims. Create your IRS-proof mileage log in only 7 minutes/month!
Web Dashboard
AI Wizard for past trip recovery, built-in IRS auditor that checks and corrects 70 logical contradictions in your mileage log before printing – this is how MileageWise makes sure you’ll have 100% IRS-proof mileage logs!
As an expert in tax compliance and mileage tracking, I can assure you that maintaining an IRS-proof mileage log is crucial for anyone subject to an audit. The article you provided focuses on the challenges individuals, including small business owners, self-employed individuals, and real estate agents, face during IRS audits related to mileage tax returns. Let's break down the key concepts and information presented in the article:
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IRS Audit for Mileage:
- The article begins by addressing individuals who have received an IRS audit notice pertaining to their mileage tax return.
- Emphasizes the importance of proper documentation within 30 days of the IRS contact.
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Issues with Inadequate Mileage Logs:
- Highlights the potential challenges if your existing logs are insufficient or lack proper documentation.
- Mentions the complications and headaches associated with an IRS audit without a reliable mileage log.
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Requirements for an IRS-Proof Mileage Log:
- Stresses the need for a meticulous mileage log that matches claimed deductions.
- Warns about potential fines resulting from inaccurate mileage logs.
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Time Sensitivity:
- Emphasizes the time-sensitive nature of responding to an IRS audit and the importance of having supporting mileage logs.
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Methods for Vehicle Deduction:
- Refers to both the standard mileage method and the actual expense method for claiming a vehicle deduction on taxes.
- Highlights the expectation of precise mileage logs in case of an audit.
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MileageWise Solution:
- Introduces MileageWise as a software solution for reconstructing past trips and creating flawless online mileage logs.
- Claims that MileageWise users can potentially claim thousands of dollars in tax savings annually.
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Components of an IRS-Proof Mileage Log:
- Specifies the essential components of a sufficient mileage log, including mileage, addresses, dates, purposes (e.g., business meetings), total mileage for the year, and odometer readings.
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AI Wizard Technology:
- Highlights MileageWise's AI Wizard Technology, which recommends and auto-populates forgotten trips into the log.
- Mentions the software's built-in IRS auditor that checks and corrects 70 logical conflicts before printing the mileage log.
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Mileage Tracker App and Web Dashboard:
- Describes the MileageWise mileage tracker app and web dashboard, emphasizing the ability to create IRS-proof mileage logs in just 7 minutes per month.
- Mentions the AI Wizard for past trip recovery and the built-in IRS auditor features.
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Blog Section:
- Promotes the MileageWise blog as a resource for tips, tricks, and information related to mileage logs and tax deductions.
- Highlights specific blog posts, such as "How a Daily Mileage Log Revision Can Maximize Your Tax Deduction And Minimize Your Headache."
In summary, the article provides valuable insights into the challenges of IRS audits related to mileage tax returns and positions MileageWise as a comprehensive solution to ensure IRS-proof mileage logs, backed by AI technology and features that address common pitfalls in mileage tracking and documentation.
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