Comments on: What Triggers An IRS Tax Audit? http://www.thewisdomjournal.com/Blog/what-trigger-an-irs-tax-audit/ Wise Choices. Improved Finances. A Better Life. Thu, 29 Jul 2010 22:31:27 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Ron http://www.thewisdomjournal.com/Blog/what-trigger-an-irs-tax-audit/comment-page-1/#comment-14980 Ron Mon, 31 May 2010 18:30:00 +0000 http://www.thewisdomjournal.com/Blog/?p=524#comment-14980 Since the IRS has hired over 15,000 new auditors, and since there are fewer tax filers since the recessions started, and since the IRS has been re-energized by the current administration and since the IRS has developed and continues to develop more sophisticated methods and technologies, those odds are expected to increase. The best bet is to avoid behaviors, incomes, or deductions that increase your chances of being audited in the first place. Since the IRS has hired over 15,000 new auditors, and since there are fewer tax filers since the recessions started, and since the IRS has been re-energized by the current administration and since the IRS has developed and continues to develop more sophisticated methods and technologies, those odds are expected to increase. The best bet is to avoid behaviors, incomes, or deductions that increase your chances of being audited in the first place.

]]> By: Mike Habib http://www.thewisdomjournal.com/Blog/what-trigger-an-irs-tax-audit/comment-page-1/#comment-14978 Mike Habib Mon, 31 May 2010 16:39:20 +0000 http://www.thewisdomjournal.com/Blog/?p=524#comment-14978 What are the chances of being examined? A total of 1,391,581 individual income tax returns were audited during FY 2008 (Oct. 1, 2007 through Sept. 30, 2008) out of a total of 137.8 million individual returns that were filed in the previous year. This works out to 1.0% of all individual returns filed (about the same as the audit rate for the preceding year). What are the chances of being examined? A total of 1,391,581 individual income tax returns were audited during FY 2008 (Oct. 1, 2007 through Sept. 30, 2008) out of a total of 137.8 million individual returns that were filed in the previous year. This works out to 1.0% of all individual returns filed (about the same as the audit rate for the preceding year).

]]> By: A Kinder, Gentler IRS? | THE WEEKLY POINT http://www.thewisdomjournal.com/Blog/what-trigger-an-irs-tax-audit/comment-page-1/#comment-8518 A Kinder, Gentler IRS? | THE WEEKLY POINT Wed, 07 Jan 2009 13:11:11 +0000 http://www.thewisdomjournal.com/Blog/?p=524#comment-8518 [...] What Triggers An IRS Tax Audit? at thewisdomjournal.com. [...] [...] What Triggers An IRS Tax Audit? at thewisdomjournal.com. [...]

]]> By: IRS - Deductions http://www.thewisdomjournal.com/Blog/what-trigger-an-irs-tax-audit/comment-page-1/#comment-8476 IRS - Deductions Mon, 05 Jan 2009 10:02:53 +0000 http://www.thewisdomjournal.com/Blog/?p=524#comment-8476 That's a nice post. Thank you for sharing very useful information. That’s a nice post. Thank you for sharing very useful information.

]]> By: Dan Massicotte http://www.thewisdomjournal.com/Blog/what-trigger-an-irs-tax-audit/comment-page-1/#comment-8444 Dan Massicotte Thu, 01 Jan 2009 21:31:07 +0000 http://www.thewisdomjournal.com/Blog/?p=524#comment-8444 I'll remember that for when my blog takes off. I'm really happy right now since I just got my PR to 1...from 0. This is really getting me going right now. I’ll remember that for when my blog takes off. I’m really happy right now since I just got my PR to 1…from 0. This is really getting me going right now.

]]> By: Admin http://www.thewisdomjournal.com/Blog/what-trigger-an-irs-tax-audit/comment-page-1/#comment-8443 Admin Thu, 01 Jan 2009 19:56:45 +0000 http://www.thewisdomjournal.com/Blog/?p=524#comment-8443 Having a separate business checking account helps! Having a separate business checking account helps!

]]> By: Dan Massicotte http://www.thewisdomjournal.com/Blog/what-trigger-an-irs-tax-audit/comment-page-1/#comment-8442 Dan Massicotte Thu, 01 Jan 2009 18:21:57 +0000 http://www.thewisdomjournal.com/Blog/?p=524#comment-8442 Hey Ron, As you know, there is a sure and certainly a big temptation for bloggers to report less than they actually made. Thank you for keeping this in the back of our minds. Honestly always pays in the long run. Hey Ron,

As you know, there is a sure and certainly a big temptation for bloggers to report less than they actually made.

Thank you for keeping this in the back of our minds. Honestly always pays in the long run.

]]> By: Admin http://www.thewisdomjournal.com/Blog/what-trigger-an-irs-tax-audit/comment-page-1/#comment-8441 Admin Thu, 01 Jan 2009 17:34:24 +0000 http://www.thewisdomjournal.com/Blog/?p=524#comment-8441 You know, that's not the first time I've heard that one. Makes sense though. Probably the IRS is so busy with the gazillion returns filed in April that they already have their schedules set for quite some time! You know, that’s not the first time I’ve heard that one. Makes sense though. Probably the IRS is so busy with the gazillion returns filed in April that they already have their schedules set for quite some time!

]]> By: SimplyForties http://www.thewisdomjournal.com/Blog/what-trigger-an-irs-tax-audit/comment-page-1/#comment-8437 SimplyForties Thu, 01 Jan 2009 05:39:14 +0000 http://www.thewisdomjournal.com/Blog/?p=524#comment-8437 Happy New Year, Ron! My accountant, who used to work for the IRS says that you are less likely to be audited if you file in the 2nd or 3rd quarter of the year as opposed to filing on April 15th. Who knows?! Happy New Year, Ron!

My accountant, who used to work for the IRS says that you are less likely to be audited if you file in the 2nd or 3rd quarter of the year as opposed to filing on April 15th. Who knows?!

]]> By: wyche128 http://www.thewisdomjournal.com/Blog/what-trigger-an-irs-tax-audit/comment-page-1/#comment-8435 wyche128 Thu, 01 Jan 2009 00:44:07 +0000 http://www.thewisdomjournal.com/Blog/?p=524#comment-8435 Make sure you keep all important documents for 3 years. I am the credit manager at an Insurance Replacement Company and we have been audited twice. Not that big of a deal but make sure you have all the documentation. <a href="http://www.debteducationalliance.com" rel="nofollow">Debt Education Alliance</a> Make sure you keep all important documents for 3 years. I am the credit manager at an Insurance Replacement Company and we have been audited twice. Not that big of a deal but make sure you have all the documentation.

Debt Education Alliance

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