Common Audit Triggers

In Financial Planning, Tax Planning by Landmark Financial Advisors, LLC0 Comments

In the spirit of tax season we found this link on the list of most common audit triggers timely: www.kiplinger.com/letterlinks/audittriggers

The overall audit rate held steady at 1.11% for individuals in 2011, but taxpayers with incomes of $1 million or more got the most audit scrutiny. The Service audited 12.48% of these high income filers. Filers with incomes over $200,000 also felt the heat with one out of 25 returns audited.

Brent

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