Best Tax Attorneys in Broomfield, CO

Tax Attorney Wells Fargo 5 Ways To Get Audited By The IRS There are some instances where you might not mind taking a calculated gamble. For example, on a hand in blackjack or a risky stock pick, you may decide to spin the proverbial dice and take a chance with the perceived odds of some benefit. When it comes to IRS audit, there is no realizable benefit to trying to gamble with the IRS audit system. Even though you may have read all of the articles that explain the very low probability that you will actually be audited, it is still not worth taking the risk that you could become a victim of the IRS audit machine. That being said, there are a few “risk factors” that could help you land a one-way ticket to a sticky IRS audit and in some real hot water. Listed below are the 5 easiest ways that you can trigger an audit, and why you should be cognizant of the potential for audits in these unique situations. 🡺S-Corp Election 🡺Claiming the Home-Office deduction 🡺Excessive Charitable Donations 🡺Not Reporting All income 🡺Making too much money If you keep these 5 factors in mind when filing your Form 1040 every year, you might have a better gauge for your true likelihood of getting audited. Even so, if you don’t fall into one of these categories, this doesn’t mean you’re off the hook. The risk is never worth the reward and taxes are one instance where it’s a good idea to just keep it honest. Contact Timberline Tax Group asap!