TOP 5 WARNING SIGNS THAT COULD LEAD YOU TO YOUR FIRST TAX AUDIT
Going undercover in order to avoid getting a letter or a tax audit from the IRS might be a silly move to take, especially after tax deductions and miscellaneous tax-dodging ways that helped trigger a warm welcome from the IRS. So, if you plan on faking your income, then the IRS might be at your back at all times in order to get all the information. Also, if you are unsure of your investments or business transactions, and wish to have an insight into your future tax consequences, then you could always demand a tax opinion letter from a tax professional for legitimacy, insight and input regarding your deal. A tax opinion letter will in turn help to disclose the possibilities and circumstances that could trigger a legal penalties or a detailed tax audit from the IRS. Mentioned below are 5 potential warning signs that have been flagged by the IRS as potential tax audit triggers.
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