17 Reasons the IRS Will Audit Your Tax Return (Kiplinger)

Sometimes, taxable income is overlooked. Sometimes deductions are erroneously applied for. These are the type of transactions the IRS auditing process look for. If you are caught, you not only will be liable for the taxes, you could be subject to penalties. It pays to know the red flags that triggers tax audits.

Ever wonder why some tax returns are eyeballed by the Internal Revenue Service while most are ignored? Short on personnel and funding, the IRS audited only 0.70% of all individual tax returns in 2016. So the odds are pretty low that your return will be singled out for review. And, of course, the only reason filers should worry about an audit is if they are fudging on their taxes.

Read More at Kiplinger





tax forms, a pen and calculator
When doing your taxes, be aware of the items that could trigger a tax audit.

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