I just received an IRS audit notice
If you're audited by the IRS this year, you won't be alone. Most tax returns singled out by the IRS for audit contain either tax deductions that appear to be too high in relationship to the person's income, or tax items that are erroneous, tax items that require proof or an explanation, or are on the IRS' list of hot tax issues (see below).
The following is a list of IRS High-Risk Tax Audit Areas:
The IRS selects those tax returns which, upon preliminary inspection, have high audit potential. Your chances of an audit are higher if you fall into any of the following categories:
- • High Wages
- • Large Amounts of Itemized Tax Deductions
- • Unreported Taxable Income
- • Self-Employment
- • Home Office Tax Deductions
- • Unreported alimony
- • Automobile Logs for people who use their car in business
