IRS Audit… WHAT?

Do you ever wonder what makes your number come up for an audit?  I do!  As and accountant I want to help my clients avoid this waste of time and resources but if they do get picked make the answers very plain so the IRS goes away and resolves any tax due or not so everyone can move on with life.  That being said attached are 12 red flags that can trigger an audit.   https://www.accountingtoday.com/list/12-red-flags-that-can-trigger-an-irs-audit?brief=00000158-6edb-da3c-af5a-ffff76ed0000

Misreporting or not reporting income

Earning more than $200,000

Big changes in income

Unusually high charitable donations

Unusually low salaries

Using the wrong Social security number

Hobby losses

Inconsistent alimony reporting

Home office

Overly round numbers

Big meal and entertainment expenses

Owning a cash business

 

 

 

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