How likely are you to be audited by the IRS?
We are constantly asked what is the likelihood of a return being audited. The answer is vague, but generally, less than 1% of all returns are audited. That said, a higher number of international returns are flagged for audit. Reasons for audits include underpayment, higher income and failure to report a foreign bank account.
The following articles will give you a better idea of what may trigger an IRS audit.
15 Ways to Invite an IRS Audit
16 IRS Audit Red Flags
7 Reasons the IRS will audit you
What Causes an IRS Tax Audit
If you have any questions about whether you might be audited or any tax queries at all, contact us.