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Certified Financial Group
01-21-2014, 05:05 PM
It's tax preparation time again, which means it's time to collect your records and hope for the best. it's also a time when taxpayers quake at the thought of a potential audit.

The good news is your odds of being audited are low: In 2012, the latest year for which the IRS has released data, just 1 percent of all taxpayers were audited. And really, honest taxpayers have nothing to fear but inconvenience from an audit.

"To me, the real question is not how do I avoid an audit but how do I make sure I'm ready for an audit," said Jackie Perlman, principal tax research analyst at H&R Block's Tax Institute.

Still, it's worth knowing what elements in your filing might catch the eye of the IRS. This year, there are some long-standing potential triggers, but also some new ones.

Read the rest of the story.

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gomoho
01-21-2014, 07:27 PM
I have received the IRS official letter several times requesting information that might result in an audit. Each time I saw that letter in the mail box my heart skipped a beat, kind of like when a police car is behind you. You know you haven't done anything wrong, but they have the power. Fortunately those letters have never resulted in a problem. On the bright side have started my taxes this year and looks good so far.

rubicon
01-22-2014, 05:21 PM
I am filing as a 501 (c) (4). do you think that is a problem?

Certified Financial Group
01-23-2014, 05:46 PM
It's only a problem if you did not receive IRS approval!