Tag Archive for: irs audit

What Are Your Chances Of An IRS Audit? 15 Audit Red Flags To Know Before You File

Most taxpayers can relax. In recent years, the IRS has audited well under 1% of individual tax returns, and that figure is expected to decline further. That said, audits haven’t disappeared. Here are 15 common audit red flags to be aware of.

The IRS Is Getting A Lot More Money For Audits. Should You Be Worried?

Congress is pouring a whopping $80 billion into the IRS over the next 10 years to beef up the nation’s tax collection system. Does this mean the tax cops are more likely to be on your tail? In fact, it might make the whole business of paying your taxes easier and better, maybe even reduce the amount all of us have to pay. CLICK ON THE HEADLINE FOR MORE

VIDEO: 7 Illegal Ways Some Americans Admit To Save On Taxes

Many Americans are missing out on certain tax-saving strategies because they think they're illegal. And, on the flip side, some Americans admit to using illegal strategies to cut down on their tax bill, CLICK ON THE HEADLINE FOR MORE

Nine Expenses You Can’t Deduct On Your Tax Return

If you can't prove your deductions are valid if audited, you could end up having to pay additional taxes, penalties and interest. For some expenses you can't deduct in most cases, CLICK ON THE HEADLINE

5 Signs You Need Professional Tax Help

Today's tax software can make it simple to fill out forms, but there are life circumstances when it's best to consider professional help. CLICK ON THE HEADLINE FOR MORE