Common Audit Triggers

In Financial Planning, Tax Planning by Landmark Financial Advisors, LLCLeave a Comment

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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