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Statistically, most of us won’t have to worry about being audited by the Internal Revenue Service.
IRS Commissioner John Koskinen noted during a recent speech in Washington, D.C., that last year the tax agency conducted the fewest audits in a decade. Agency data show that in 2015, the IRS examined only 0.84% of nearly 147 million individual returns, down slightly from 2014.
The commissioner says he expects the trend of fewer audits to continue this year.
Still, if you’re part of the small group of taxpayers who have to answer tax collectors’ questions, it is no fun. To avoid that possibility, don’t wave any of these 10 audit red flags.