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Tax Audit Red Flags
If you think you have to be caught stowing away cash in an offshore bank account to trigger an audit, you better think again. One tiny error on your return can have the IRS knocking on your door. In 2007, the IRS audited approximately 1.4 million returns, a 7% increase from 2006 and the highest number on record since 1998.
Here are five common red flags that catch the IRS's eye and how to avoid them.
Five Tax Audit Red Flags