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What happens if the IRS audits you: What to know about IRS audit letters and more. How do rich people avoid taxes?: Wealthy Americans skirt $160 billion a year in tax payment. What triggers an IRS ...
"In other words, the IRS audits higher income taxpayers more frequently," Reams said. In fact, last year the IRS audited about 1% of those who brought in less than $200,000.
An IRS audit is a review of an individual, partnership or organization's tax return and financial information to verify that reported information is correct. ... Common audit trigger events ...
Here are the red flags that could trigger an unwanted IRS audit.
One audit trigger is if you exclude some income sources or report a smaller amount of income than you actually received. "Underreporting income would probably be the first red flag," Greene Lewis ...
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The "tax gap" is the difference between what the IRS expects to collect and what it actually does collect. In 2005, the IRS Seven Common Audit Triggers and Ways to Avoid Them
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