Wednesday, February 10, 2010

Avoid an Audit: 6 Red Flags You Should Know

Personal Finance News from Yahoo! Finance: "If history is any indicator, less than 1% of Americans will be audited by the Internal Revenue Service in the coming year. And while some of these audits are totally random, and there's nothing that the individual taxpayer can do about them, many audits are actually instigated by the taxpayers themselves.

To that end, below is a list of 'red flags' that can cause your return to be cherry picked by the IRS for review. Pay particular attention, as knowing what the flags are can keep you out of trouble."

CLICK the link to read more.