While IRS tax audits are rare, some filers worry their returns could be picked for examination. You can avoid future issues by keeping receipts and other records to support your claims, experts say.
Most taxpayers won’t be audited, but common mistakes—like reporting errors or inconsistencies—can raise red flags. Knowing the IRS’s top audit triggers can help you reduce your risk.
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The tax cuts enacted last month aren’t the only good news for high-income taxpayers. The risk of an in-depth audit by the Internal Revenue Service is likely to ease this year, reversing a two-year ...
Being in business for yourself can be exciting, lucrative, and a great way to draw the attention of the IRS's audit division. The IRS has audited significantly less than 1% of all individual returns ...
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 ...
Taxpayers are typically worried they'll get audited for making mistakes on their returns, but audits are historically rare. The Trump administration reduced the number of IRS employees, so there is a ...
Plus: Tax check-ups, changes for Social Security beneficiaries, considerations for retirees abroad, IRS audit rates and enforcement, tax refund checks and payment plans, tax filing deadlines, tax ...
Happy Valentine's Day! While you're celebrating with your loved ones, don't forget about an important date two months from now. With tax season in full swing and just 60 days until Tax Day, most ...