Simple Steps to Avoid an Audit

It's tax season again and we'd all like to avoid an audit. Experts say there are things to avoid that'll probably keep the IRS from your door.

Tax strategist Kyle Walters says make sure your deductions are proportionate with your income.

"You're making $100,000 and you're deducting $90,000; that's obviously a proportion that can be a little out of whack."

Walters says one of the biggest mistakes that'll lead to an audit is failure to report income.

"If you get a 1099 and you're getting something in the mail and you don't report that, the IRS has got technology in place that's gonna let them know that you didn't report it."

Walters says, bottom line, if you're honest there's no reason to fear an audit.

"Audit doesn't necessarily have to be a such a bad word, but keep in mind this is something that can happen and if you file every year, even if it's a low probability, you file your taxes for 30 or 40 years, it's probably gonna happen."

The IRS says less than one percent of all returns are audited.

Sponsored Content

Sponsored Content