It's rarely a good day when you get a letter or phone call from the IRS. Most of us do our best to report on time and pay our fair share, but what we really want is to stay under the radar and out of trouble. We talk about who has to file a return; what kinds of income you need to report; which things you can estimate, and which ones you have to report exactly; what kind of errors draw attention; some common triggers for audits; who has to pay estimated taxes; and what kind of records you need to keep and how long you have to keep them.

Heather C. Liston, CFP®, Enrolled Agent, teaches courses at UC Berkeley Extension on Income Tax, Employment Benefits & Retirement Planning and Retirement Income Planning. She is a fee-only financial planner with Hargrave Fiduciary Advisors, and also a tax advisor and preparer.

Heather C. Liston - LinkedIn