13 Unlucky Reasons the IRS Will Audit You

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7. Regularly Reporting Losses

When some taxpayers consistently report losses to their business on an annually regular basis, eventually you will catch the IRS’ eye, especially if their home mortgage interest and taxes appear to indicate a much larger income than stated, Reams says.

“If audited under these circumstances, the individual will generally need to show other sources of funds such as gifts, savings, loans, or tax-free income,” Reams said.

 

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