What Triggers Irs Audit
January 11th, 2007
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Question: What triggers an IRS audit?
I filed with some schedule A deductions and schedule E. Nothing extraordinary and I used a CPA.
I have always had a phobia about an IRS audit.
Answer: Four things:
1. Disproportionate figures in your tax return like huge expenses or deductions.
2. Failure to report income (that was reported to the IRS by another source).
3. Random lottery pick in which you are the “lucky winner.”
4. An outright error by you or them.
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