Wealth Wednesday: Tips for Avoiding an IRS Audit

of 81Photo
  • Six Tips
  • Tap Into Free Tax Prep Help
  • Use Tax Software
  • Double Check Those Home Office Expenses
  • Double-Check Oversize Deductions
  • Report All Income Accurately
  • Stay On the Up-and-Up
  • Check and Re-Check

Six Tips

The Internal Revenue Service targets nearly 1.6 million individual tax returns for audits annually — or about 1.11 percent of the total number of individual returns filed in the U.S. And while the bulk of those returns involve taxpayers who report upwards of $10 million in annual income, a number of lower earners also get caught in the audit net every year.

While there’s no 100 percent guaranteed way to ensure that your tax return isn’t audited, here are six good tips to keep in mind when filing your return this year. — Bridget McCrea

(Photo: Melanie Stetson Freeman/The Christian Science Monitor via Getty Images)

Related Topics