What Are the Warning Signs of an IRS Audit?
Worried about an IRS audit? Learn the warning Signs of an IRS Audit, and find out what to do if you’re flagged with this guide!
Worrying about an IRS audit is something no one wants to face. But if the Internal Revenue Service identifies certain questionable activities in your tax returns, you may be targeted for an audit. This guide will explain the types of red flags that trigger an IRS audit and steps that you can take to ensure a smoother process.
The most common factor that will trigger an IRS audit is unreported income. If the IRS detects a discrepancy between the income you’ve reported and what the agency expects, they may investigate to uncover any additional income that has not been claimed. Make sure to include all your sources of income, including investments and royalties, to avoid any discrepancies … Read the rest