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The Truth About Tax Audits

Book Description

This Element is an excerpt from The Truth About Paying Fewer Taxes (9780137153862) by S. Kay Bell. Available in print and digital formats.

How to keep from joining the 1% of U.S. taxpayers who get audited every year!

Statistically, your risk of being audited is small. In 2007, for example, 1.4 million returns got a closer look from the IRS. But more than 140 million returns were filed that year. The raw numbers don’t matter, though, if your return ended up in that 1 percent. So you don’t have to spend time and money in connection with an audit, here are some ways to minimize IRS interest in your return.