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Potential red flags that could grab the attention of the IRS Thumbnail

Potential red flags that could grab the attention of the IRS


There are inquiries from the IRS that fall short of an official audit. The IRS will handle an estimated 150 million returns this filing season, with the filing deadline set for July 15. As of June 12, the agency had received more than 136.5 million returns and issued 92 million
refunds. The average refund is $2,767.

Here are some common things that could prompt the IRS to look more closely at your 2019 return.
1. What are the Odds of an IRS audit?
2. Unreported income
3. Earned income tax credit
4. Large Charitable Deductions
5. Odds and ends

with Kevin Myeroff from NCA Financial Planners
Aired 6/24/2020 WTAM AM 1100

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