Audits aren’t terribly common: Only 0.6 percent of individual returns were examined in the 2017 fiscal year, according to the IRS. But filing your return completely, accurately and honestly can.
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Audits by the IRS are taxpayers’ worst nightmares. Here are some of the most common reasons for an IRS audit. If a third-party filed tax information on you to the IRS, and you then failed to report that when you filed your taxes, you will likely receive a letter from the IRS’ Automated Underreporter Program.
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When you call, have a copy of your tax return and the notice on hand and write down the ID of the IRS agent to whom you speak. Keep copies of your tax returns and IRS correspondence. It’s important to keep tax records in case of future IRS audits. Avoid tax scams.
However, it does mean that something on your tax returns triggered their computer screening process. Because the screening involves comparing your tax return against the "norm", often a tax return that falls too far out of the spectrum will raise an alarm.. Another cause for an IRS Audit might be that you did business with someone that is currently undergoing an audit.
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Your return could also be selected for a tax audit. If the auditor that initially reviews your return thinks it is necessary to conduct a more thorough examination, it will be forwarded to an examining group and reviewed by a manager to determine if it is best to move forward with a full-fledged audit or accept the return as is.
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But full-blown audits don’t actually happen all that often. The IRS is auditing fewer returns these days, mostly due to federal budget cuts that have affected staff size since 2010. Only 0.6 percent of returns earned extra, intense review in 2016. This was down from about 0.8 in 2014 and 2015.