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There is no way that would work with the IRS. Anything you estimated and can't provide documentation for will automatically be considered void and non-existent
by jjeaff 6y ago
There is no way that would work with the IRS. Anything you estimated and can't provide documentation for will automatically be considered void and non-existent by the IRS if that thing reduces your tax bill.
If you think you have about $5k in valid deductions, but you can't provide any documentation upon an audit, then that $5k will be reduced to exactly $0 and you will owe all additional taxes plus interest and penalties.
- vidarh 6y agoI was estimating income, not deductions.