Audit Red Flags

April 30, 2012

Presented by Eric C. Pritz, CFP®, CMFC

What raises eyebrows at the IRS?

After tax filing, there are many individuals living in fear of an IRS Audit. This fear may be overblown – according to Internal Revenue Service data, just 1.6 million taxpayers were audited in 2011. The agency reviewed about 1% of returns sent in by taxpayers making less than $200,000, and no more than 12% of millionaires had their returns scrutinized.1,2

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