IRS Audit Red Flags: The Dirty Dozen

Here are 12 hot spots on your return that can raise the chances of scrutiny by the IRS.

1. Failure to report all taxable income. …………

2. Returns claiming the home-buyer credit. …………

3. Claiming large charitable deductions. …………

4. Home office deduction. …………

5. Business meals, travel and entertainment. …………

6. Claiming 100% business use of vehicle. …………

7. Claiming a loss for a hobby activity. …………

8. Cash businesses. …………

9. Failure to report a foreign bank account……………

10. Engaging in currency transactions. …………

11. Math errors. …………

12. Taking higher-than-average deductions. …………

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s