mortgage masters group Here Are the Odds of An IRS Audit Mortgage Masters Group Ever wonder why some tax returns are eyeballed by the Internal Revenue Service while most are ignored? Short on personnel and funding, the IRS audited only 0.70% of all individual tax returns in 2016.
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Here are things that they said could increase the chances. This type of audit is done completely by computer, according to CPA Mary Kay Foss. The IRS computer compares the 1099s (freelance income),
as the prospect of an IRS tax audit is rather worrisome. Here are three bits of good news, though: It’s very unlikely that you’ll be audited, there are ways to decrease your odds further, and even if.
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Los Angeles, CA – In this week’s MarketWatch.com article I talk about the mortgage interest deduction.. In the course of working on this article, I tried to track down specific information from the IRS. Our taxpayer education coordindator here in LA did some research for me about this and, after a bit of phone tag, we connected this morning.
Our calculator, based on official IRS data on returns audited in 2016, will give you a good idea of the odds that your personal return will be selected for review-either by mail or in person.
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Now before we go on, let’s get the following out of the way: Statistically speaking, your chances of getting. that increase your audit risk without you being any the wiser. Here are a few that.
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