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Time to Start thinking about Taxes! 5 Ways to Avoid an Audit!
By Buzz | January 27, 2009
According to the most recent data, in 2007 the IRS audited approximately 1.4 million returns, a 7% increase from 2006 and the highest number on record since 1998. You do not have to have secret offshore bank accounts to trigger an audit. There are 5 good tips to help you avoid an audit. These five things can trigger an audit:
| Failing to Show All of Your Income |
| Failing to Pay Taxes on Forgiven Debt |
| Filing a Small Business Loss |
| Claiming a Home-Office Deduction |
| Misreporting Real Estate Gains and Losses |
Topics: Taxes and Insurance, Tips and Tidbits |