| For most Americans, the mere suggestion
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| | of an IRS audit go up massively. The
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| of an IRS audit is enough to require the
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| | software will compare your deduction with
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| changing of the pants. So, what percent
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| | others in your income group and will find
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| chance do you have of an IRS audit?
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| | that it is rare that anyone in that
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| Relax; the percentages of IRS picking you
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| | income range ever makes such donations. A
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| for audit are very small if you have
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| | red flag will be assigned to your file
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| filed your taxes honestly and properly.
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| | and it is audit time. If you actually
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| The IRS gets a couple hundred million tax
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| | have $10,000 in charitable deductions,
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| returns filed every year. It does not
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| | however, this should not stop you from
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| have the necessary staff to audit each
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| | claiming them. You need to simply make
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| and every tax return. In fact, the IRS
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| | sure that you have all the necessary
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| audits less than 2 percent of tax filers.
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| | documents to support your claim of making
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| So theoretically, the possibility of you
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| | a donation in that amount.
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| getting audited by the IRS is very low
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| | More than employees, self-employed people
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| unless you attract their attention by
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| | are targets of audits as they have the
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| committing a few mistakes.
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| | ability to convert personal expenses in
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| One area where you can hurt your
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| | to business ones and put it under
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| possibility of an IRS audit is
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| | itemized deductions. Your car mileage and
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| underreporting income. For zeroing in on
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| | expenses on meals and entertainment must
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| possible undisclosed taxable income, the
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| | have detailed information backup. The use
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| IRS has devised certain criteria. The IRS
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| | of a car or truck should have detailed
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| has computer software that separates the
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| | logs and invoices of maintenance. Meals
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| suspect filers from the clean ones. It
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| | above $75 should have bills and for
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| also filters out filers who have claimed
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| | amounts below that, a simple entry in the
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| an excess of deductions, have shown
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| | diary with details of date, place and
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| losses for successive years and show
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| | name of restaurant and kind of
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| expenses disproportionate to the size of
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| | entertainment they provide, person
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| their business.
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| | entertained and your relationship to them
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| If you earn $50,000 and show $10,000 as
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| | will suffice.
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| charitable deductions, your possibility
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