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WBEN NewsRadio 930>Audio & Video on Demand>>Tax Tips- Avoiding Audits

Tax Tips- Avoiding Audits

Mar 24, 2014|

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Automatically Generated Transcript (may not be 100% accurate)

If there's one thing you may dread more than doing your taxes it's hearing from the IRS later but most people don't have to worry about being audited. I'm -- stark of money magazine with tips for tax filing season. In recent years the audit rate has been falling in 2013 barely 1% of all taxpayers were audited by the IRS. And many of those audits were by mail. The more money you make however the worse your odds get to keep -- your risk of being audited. Make sure you report all your income the IRS can match your 1099 and W two forms to your return. Larger than average deductions rental losses the home office deduction and simple math mistakes can also trigger an audit. This slim chance of getting audited is why you should keep careful records the IRS usually has up to three years to take a hard look at your return. But if the agency suspects a serious problem -- look back six years for more ways to save on your taxes check out money magazine on -- stark.

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