Do These 3 Things to Reduce Your Risk of a Tax Audit
You know what's worse than doing your taxes? Having to do them again. But that's the reality for about 1 million unlucky people every year. The government audited 0.5% of all tax returns from the 2017 tax year, the latest year for which IRS data is available. An audit is where the government pays a special visit and goes through all of your tax documentation with you to make sure you paid your bill correctly.
Though about 30,000 of the 1 million audits resulted in the individuals getting extra refunds, many others weren't so lucky. If you don't want to take that risk, it's important to do your taxes correctly the first time. Here are a few things to keep in mind.
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Source Fool.com
