Apr. 16, 2010
Worried About Asking for a Large Refund?
If you're worried that a large refund check will increase audit exposure, Robert Wood of Wood & Porter discusses situations where not asking for money back may be wise.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
If you are getting a tax refund, you'll be more anxious to file your return than if you're writing a check. This may sound crazy, but even if you're entitled to a refund, should you ask?
Many taxpayers worry that if they compute their tax and are asking for a whopping check back, their audit exposure goes up. You may have had too much tax withheld from your paycheck, or made estimated tax payments during the year that turned out to be too big. T...
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