Tips and Advice

Seven Tax Sins That Will Trigger An IRS Audit

There's nothing inherently bad about an IRS audit, but it's in everyone's best interest to avoid these seven deadly tax sins so you won't have one.
irs audit warning sign
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Kristin Marino verified

irs audit warning signThere are some things that seem fairly straightforward when it comes to what the Internal Revenue Service (IRS) will audit you for: an error, too many donations to charity, reporting too many Schedule C losses (if you’re self-employed, the Schedule C Form 1040 will be familiar to you). Then there are those things that aren’t obvious at all, like using round numbers. FOX Business has a list of seven reasons why the IRS will audit you.

There’s nothing inherently sinister about an audit, but it’s in everyone’s best interest to avoid these common tax mistakes that could land you in hot water.