by 卡塔尔世界杯常规比赛时间 research
a survey found that more than half of all americans would rather get mugged than audited by the irs. getting audited can mean a lot of work, a lot of expense and maybe a lot of penalty.
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discrepancies and dubious deductions are typical triggers for an audit. here are the 10 most common callers of irs attention. this list is not all-inclusive.
1. failure to report all income: the irs receives copies of all your income documents such as w-2s and 1099s. failing to report any of these can lead to additional irs scrutiny and possibly an audit.
2. excessive entertainment, vehicle and home office expenses: large deductions for entertainment, vehicle use and home offices are closely scrutinized. ensure you have proper documentation and that the deductions meet irs requirements. don’t let questionable expenses lead the irs to look at your other deductions.
3. cash-based business moving too much cash: large cash transactions, especially those over $10,000, are reported to the irs. a high volume of cash transactions without corresponding bank records can raise irs suspicions.
4. transactions in cryptocurrency: the irs is paying close attention to transactions involving cryptocurrencies. failing to report these can indicate an attempt to hide something.
5. excessive charitable donations: while charitable donations are tax-deductible, donating an unusually high percentage of your income to charity can raise suspicions. ensure all donations are properly substantiated and that charities are duly registered and eligible.
6. excessive losses on a schedule c: constantly reporting losses for a business, especially if it seems like personal expenses are being claimed as business expenses, can signal to the irs that further examination is needed.
7. excessive gambling losses and day trading activities: claiming large gambling losses, including “day trader” activities, can draw irs attention. both require specific documentation to substantiate claims.
8. unreported income from rentals, investments, foreign bank accounts: income from these sources must be accurately reported. third parties may be reporting your rent as an expense. discrepancies can trigger an audit.
9. excessive use of self-employment tax deductions: claiming above-average deductions for self-employment expenses can appear suspicious. only claim deductions for documented business expenses.
10. errors or omissions: simple mistakes or omissions on your tax return can also prompt an irs audit. check your math. see all the above. don’t forget investment income.