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9 Tax Audit Red Flags for the IRS

Source: nasdaq.com - Dec 19, 2016

The end of the year is nearly here, which means consumer spending is in full swing and people, in general, are acting a little bit cheerier than normal. However, that cheeriness could disappear once the calendar ticks over to January, because it officially means that tax time is just around the corner.

Preparing your taxes isn't a lot of fun -- according to the Pew Research Center, 72% of Americans believe the federal tax code is too complex. For instance, the Tax Foundation found that the U.S. tax code is approaching 10.1 million words in length, not counting the lengthy court documents that help describe some of the tax laws on the books. Furthermore, the instructions to complete a basic Form 1040 are more than 100 pages long.

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Category: General Business