By Joy Taylor
From Kiplinger’s Personal Finance
Question: With the Internal Revenue Service (IRS) getting billions added to its budget, does that mean the chance of being audited rises substantially?
Answer: Most of the enforcement effects from the IRS’ $80 billion windfall won’t be felt by taxpayers for at least a couple of years. And most individual returns will still escape the audit machine.
The bad news is that your chances of an audit escalate, sometimes significantly, depending on various factors. While there’s no sure way to predict an IRS audit, these are red flags that could certainly increase your chances of one:…