Tax
Oct. 27, 2016
Red flags can up audit risk
Learn about some of the red flags that can increase the risk of tax audit . By Betty J. Williams
The vast majority of income tax returns are not audited by the IRS. In fact, for fiscal year 2015, individuals earning less than $200,000 per year, have less than a 1 percent chance of being selected for audit. As income increases, so does the risk of audit. Those taxpayers earning an annual income over $1 million had a 8.4 percent rate of audit.
Some of the red flags that can increase the risk of audit include errors on...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In