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8 IRS Audit
Triggers To Keep
in Mind This Tax
Season.
agileeplatform.com
Keep an eye on these triggers
while you file your taxes.
Misrepresentation of
income
agileeplatform.com
IRS uses computer programs that
match your filed income with the
amount that is provided by your
employers and other sources to
identify discrepancies. You might get
audited if there is a huge mismatch
agileeplatform.com
Making too much
money
IRS might suspect an error or fraud
If you are earning more than usual.
The chances of getting audited are
high if you earn more than a million
dollars a year. Make sure your books
are accurate to avoid any penalties
agileeplatform.com
When the business
keeps losing money
IRS notices that small business that
reports excessive losses. There is a
chance that business owners might
report personal expenses to get
more deductions and reduce the tax
burden.
agileeplatform.com
Huge Charitable
Donations
The government offers tax
deductions for charitable donations.
But if you donate a huge chunk of
your income, you might get an IRS
audit. Make sure to keep proper
receipts if your transactions are legit.
agileeplatform.com
Self-employed or
cash-based business
The chances of getting an IRS audit
are high if you own a cash-based
business and your lifestyle doesn’t
match your income. You will get
reported if you make a transaction
or cash deposit of $10,000 or higher.
agileeplatform.com
If you have cash or
assets overseas
IRS keeps an eye on taxpayers who
have cash and other countries,
especially those countries which
have relaxed taxes. The banks
overseas are obligated to send
them records if IRS wants to know.
agileeplatform.com
Round numbers
Rather than rounding your expenses
to the nearest dollar, if you estimate
your round-off and file your entries
that end in zero or five might raise
suspicion. The numbers might look
neat and easy to calculate, but
accurate books are not.
agileeplatform.com
Mistakes
Double-check your form for any
mistakes. It is most likely to be a
miscalculation, a missing decimal
point, or entering a wrong social
security number. Make sure you
avoid these preventable mistakes
while filing your taxes
agileeplatform.com Follow us for more
info@agileeplatform.com
File your taxes
without the fear of
getting audited
Agile e-Platform

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8 IRS Audit Triggers That You Should Keep in Mind

  • 1. 8 IRS Audit Triggers To Keep in Mind This Tax Season. agileeplatform.com Keep an eye on these triggers while you file your taxes.
  • 2. Misrepresentation of income agileeplatform.com IRS uses computer programs that match your filed income with the amount that is provided by your employers and other sources to identify discrepancies. You might get audited if there is a huge mismatch
  • 3. agileeplatform.com Making too much money IRS might suspect an error or fraud If you are earning more than usual. The chances of getting audited are high if you earn more than a million dollars a year. Make sure your books are accurate to avoid any penalties
  • 4. agileeplatform.com When the business keeps losing money IRS notices that small business that reports excessive losses. There is a chance that business owners might report personal expenses to get more deductions and reduce the tax burden.
  • 5. agileeplatform.com Huge Charitable Donations The government offers tax deductions for charitable donations. But if you donate a huge chunk of your income, you might get an IRS audit. Make sure to keep proper receipts if your transactions are legit.
  • 6. agileeplatform.com Self-employed or cash-based business The chances of getting an IRS audit are high if you own a cash-based business and your lifestyle doesn’t match your income. You will get reported if you make a transaction or cash deposit of $10,000 or higher.
  • 7. agileeplatform.com If you have cash or assets overseas IRS keeps an eye on taxpayers who have cash and other countries, especially those countries which have relaxed taxes. The banks overseas are obligated to send them records if IRS wants to know.
  • 8. agileeplatform.com Round numbers Rather than rounding your expenses to the nearest dollar, if you estimate your round-off and file your entries that end in zero or five might raise suspicion. The numbers might look neat and easy to calculate, but accurate books are not.
  • 9. agileeplatform.com Mistakes Double-check your form for any mistakes. It is most likely to be a miscalculation, a missing decimal point, or entering a wrong social security number. Make sure you avoid these preventable mistakes while filing your taxes
  • 10. agileeplatform.com Follow us for more info@agileeplatform.com File your taxes without the fear of getting audited Agile e-Platform