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. Sun, 05 Feb 2012 12:01:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Jeff Fitzhugh http://www.thewisdomjournal.com/Blog/what-trigger-an-irs-tax-audit/comment-page-1/#comment-20913 Jeff Fitzhugh Mon, 06 Jun 2011 13:01:17 +0000 http://www.thewisdomjournal.com/Blog/?p=524#comment-20913 They rape us with taxes. The FICA tax is a rip off and eliminating the Federal Reserve would solve that problem. Then the money used when they give our money to other countries. The money given in free grants. The only hope is educated people and it's occurring, but not fast enough. What price tag would you put on that? They rape us with taxes. The FICA tax is a rip off and eliminating the Federal Reserve would solve that problem. Then the money used when they give our money to other countries. The money given in free grants. The only hope is educated people and it’s occurring, but not fast enough. What price tag would you put on that?

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]]> By: Ron http://www.thewisdomjournal.com/Blog/what-trigger-an-irs-tax-audit/comment-page-1/#comment-19869 Ron Sun, 03 Apr 2011 02:11:49 +0000 http://www.thewisdomjournal.com/Blog/?p=524#comment-19869 Most states have a penchant for following the IRS's lead on a lot of policies so I would assume that audit triggers would be the roughly the same. State audits are handled by the state Department of Revenue. I did a quick search and couldn't find out if one state was more audit-happy than another but I would wager than states with a budget problem are going to invest more resources in audits than those with a budget surplus! Most states have a penchant for following the IRS’s lead on a lot of policies so I would assume that audit triggers would be the roughly the same. State audits are handled by the state Department of Revenue. I did a quick search and couldn’t find out if one state was more audit-happy than another but I would wager than states with a budget problem are going to invest more resources in audits than those with a budget surplus!

]]> By: Bill http://www.thewisdomjournal.com/Blog/what-trigger-an-irs-tax-audit/comment-page-1/#comment-19866 Bill Sat, 02 Apr 2011 19:42:37 +0000 http://www.thewisdomjournal.com/Blog/?p=524#comment-19866 What about state audits? Are the criteria similar for triggering an audit for state returns? Who handles audits in the states? And, are any states in particular more or less audit-happy? What about Wisconsin? Thanks for all the great info... What about state audits? Are the criteria similar for triggering an audit for state returns? Who handles audits in the states? And, are any states in particular more or less audit-happy? What about Wisconsin?

Thanks for all the great info…

]]> By: Ron http://www.thewisdomjournal.com/Blog/what-trigger-an-irs-tax-audit/comment-page-1/#comment-19748 Ron Mon, 21 Mar 2011 10:25:15 +0000 http://www.thewisdomjournal.com/Blog/?p=524#comment-19748 The IRS simply wants its money. Prison is usually reserved for the most egregious crimes where someone owes a ton of money but for the average citizen, simply send in the money and you'll probably avoid the big house. You won't avoid interest charges and penalties however. Those are listed on the IRS website and they can vary depending on the amount owed. Your best bet is to immediately come clean and work with the IRS to resolve any issues they have with your return. Always return those phone calls and reply to those letters. The IRS simply wants its money. Prison is usually reserved for the most egregious crimes where someone owes a ton of money but for the average citizen, simply send in the money and you’ll probably avoid the big house. You won’t avoid interest charges and penalties however. Those are listed on the IRS website and they can vary depending on the amount owed.

Your best bet is to immediately come clean and work with the IRS to resolve any issues they have with your return. Always return those phone calls and reply to those letters.

]]> By: Tim http://www.thewisdomjournal.com/Blog/what-trigger-an-irs-tax-audit/comment-page-1/#comment-19747 Tim Mon, 21 Mar 2011 08:26:40 +0000 http://www.thewisdomjournal.com/Blog/?p=524#comment-19747 What are the penalties? What happens if IRS audits someone (either by random or system alarm) and find error? Will they just ask to make correction & send it again or there is penalty, future consequences, prison, etc? What are the penalties? What happens if IRS audits someone (either by random or system alarm) and find error? Will they just ask to make correction & send it again or there is penalty, future consequences, prison, etc?

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