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But certain red flags may make you more likely to fall into that unfortunate group, experts said. "Less than 1% of people are actually audited," Lisa Greene Lewis, a tax expert with TurboTax, told ...
Flickr source Do you ever wonder how the IRS chooses which taxpayers it wants to audit?While the IRS audits only about 1 percent of all individual tax returns annually, you don't want to be one of ...
Here are the most common reasons the IRS may audit you. ... So, the IRS looks for the following red flags on the form: More deductions than profits. Round numbers for income and expense values.
IRS audit flags can stem from things you do — or don't do — when filing your tax return.
But according to David Knecht, a partner at CPA-firm Milam, Knecht & Warner in Glendale, Calif., there are red flags the IRS looks for that increase your chances of an audit, no matter what your ...
Here are the red flags that could trigger an unwanted IRS audit.
Tax audits are certainly unpleasant occurrences -- but let's face it, they happen. However, just because they're a fact of life doesn't mean you shouldn't avoid an IRS tax audit like the plague....
The best way to prevent an audit is to avoid tax scenarios that catches the IRS's attention in the first place. Here are five ways to do that. 5 red flags that can trigger a tax audit from the IRS ...