Being audited by the Internal Revenue Service is a fear many people have every tax season. When that fear is present, it causes some legitimate deductions to go unclaimed. It means that you are leaving money in the hands of the IRS that is rightfully yours—and that you will never see it again. Although a tax audit can be a problem, you can avoid it by looking for these IRS audit red flags.
Even though being audited by IRS makes many people afraid of the agency, tax audits are not that common. According to Money.USNews, the odds of being audited by IRS are only 0.3 percent. That is how many individual tax returns were audited in 2020….