IRS Audit Help Casper WY
20% off Your First Tax Return
ROCK SPRINGS, WY
IRS Audit Help
Pick your favorite scary movie. It could be the first Alien or something else. No matter how scary they were, nothing is scarier than IRS audits.
If a person has a nightmare about finances, chances are that it is about IRS audits. However, if you are paying your taxes regularly and honestly about your filings there is no reason why you should be afraid of an audit. The IRS picks people with the help of a computer software program that zeros in on individuals that could have erred in filing their returns.
Normally, people who show deductions too high in relation to their income or tax items as erroneous are more likely to face a tax audit. Even so, only 1.5 to 2 percent of all tax filers are audited every year. The reason for the relatively low rate is the IRS simply does not have the staff to do the work. Think about it. There are hundreds of millions of tax returns filed each year!
One area the IRS does get riled up about is abusive business loss claims. The IRS looks for people who show losses in business over the years. If you are claiming business losses each year, it begs the question as to how you are staying in business. People that fudge in this area are really asking for trouble through IRS audits.
Moreover, if you have these things on you tax forms you may attract a tax audit:
Unreported taxable income is definitely going to attract audit. For example, interest earned.