With tax time upon us, many people worry they'll be selected for an audit. Fortunately, only about 1% of all taxpayers get audited, and many of these audits require no more than a response to a letter from the IRS requesting additional documentation. That said, there are things that could make your return stand out and increase your chances of an audit.
Now, even if one of these applies to you, that doesn't necessarily mean you'll be audited. You should absolutely claim every single deduction and credit to which you are entitled. So long as you do that, even if the IRS does decide to take a closer look, you should have nothing to worry about.
Continue Reading Below
Here are 10 common audit triggers and some specific things the IRS checks for.
The article 10 Reasons Your Tax Return Could Be Audited originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright 1995 - 2015 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.