The IRS audits very few returns, but mismatched income, overstated deductions, and easy-to-spot errors can still trigger IRS notices, reviews, and costly follow-ups.
Even simple mistakes can raise red flags with the IRS. Here's what deserves special attention so you can avoid triggering an ...
Wondering the best time to file taxes to avoid audits? While there's no guarantee, these tips can help you minimize discrepancies and reduce your chances.
For many taxpayers, the possibility of an IRS audit can be intimidating. While most taxpayers will never face an audit, it's essential to understand what triggers them, how the process works, and what ...
Audit rates dropped sharply -- down 46% -- between 2010 and 2018. The audit rate for individual tax returns went from 1.1% to just 0.6%, based on a Congressional Budget Office report. By 2022, the IRS ...
Question: I just received an audit notice from the Internal Revenue Service for my 2023 S corporation and individual income tax returns. I prepared the bookkeeping and tax returns myself. The IRS has ...
A stock photo of a Red Audit stamp on a 1040 US individual income tax return. Photographed at 50mp with the Canon EOS 5DSR and the 100mm 2.8 L lens. It is only natural to be worried about being ...
These red flags could increase your chances of the IRS selecting your return for audit.
Following are examples of tried and proven tax-reduction tips: Get help. The U.S. Internal Revenue Code is 3.4 million words long. It changes every year, often in ways that directly affect ...