Here’s why your tax return may be flagged by the IRS
- While the chances of an audit are slim, there are several reasons why your return may get flagged, triggering an IRS notice, tax experts say.
- Red flags may include excessive write-offs compared with income, unreported earnings, refundable tax credits and more.
- “My best advice is that you’re only as good as your receipts,” said John Apisa, a CPA and partner at PKF O’Connor Davies LLP.
Original Article Source Credits: CNBC , https://www.cnbc.com/
Article Written By: Kate Dore, CFP®@KATEDORE
Original Article Posted on: FEB 3 2022
Link to Original Article: https://www.cnbc.com/2022/02/03/heres-why-your-tax-return-may-be-flagged-by-the-irs.html