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9 IRS audit red flags for retirees

Kiplinger Logo By Joy Taylor, Editor of Kiplinger | Slide 1 of 10: In 2017, the Internal Revenue Service audited only 0.60% of all individual tax returns, and the vast majority of these exams were conducted by mail. So the odds are generally pretty low that your return will be picked for review. That said, your chances of being audited or otherwise hearing from the IRS escalate depending on various factors. Math errors may draw IRS inquiry, but they’ll rarely lead to a full-blown exam. Check out these nine red flags that could increase the chances that the IRS will give the return of a retired taxpayer special, and probably unwelcome, attention.SEE ALSO: The Most-Overlooked Tax Breaks and Deductions

9 IRS Audit Red Flags for Retirees

In 2017, the Internal Revenue Service audited only 0.60% of all individual tax returns, and the vast majority of these exams were conducted by mail. So the odds are generally pretty low that your return will be picked for review.

That said, your chances of being audited or otherwise hearing from the IRS escalate depending on various factors. Math errors may draw IRS inquiry, but they’ll rarely lead to a full-blown exam. Check out these nine red flags that could increase the chances that the IRS will give the return of a retired taxpayer special, and probably unwelcome, attention.

SEE ALSO: The Most-Overlooked Tax Breaks and Deductions
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