What are some items on your tax return that could ‘red flag’ it by the IRS for audit? The Minnesota Society of CPAs has made a list of things that could cause the Service to take a closer look at your tax return:
Now, just remember that having these items will not automatically get you an examination letter. These are just risk factors; the more of them there are, the larger the POSSIBILITY the IRS may assign a live person to inspect your return in more detail, then determine if it is worth it to them to audit the return. If you have a legitimate deduction and can document it, by all means you should take the deduction (but you may not want to risk an audit for a few hundred dollars in tax savings.) Something to discuss with your tax preparer.
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