Q:

What kinds of things might get you audited?

A:

Quick Answer

While only about 1 percent of taxpayers get audited every year, there are a few red flags the IRS tends to look out for in order to determine the unlucky few who fall under that category. These include tax filings that point to carelessness or dishonesty.

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What kinds of things might get you audited?
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Full Answer

  • Reporting massive amounts of income

  • Failing to report foreign bank accounts

  • Taking a public stand against federal taxes (like Wesley Snipes did)

  • Failing to report income the IRS gets notified of on forms like the 1099

  • Claiming huge deductions for charitable donations

  • Attempting to claim losses on things like hobbies and non-business-related travel

  • Taking a large home-office deduction

  • Reporting deductions in round numbers

  • Submitting tax paperwork with errors

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