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4 warning signs that an IRS tax audit is imminent, including one that tax expert refers to as “dead giveaway”

As the IRS starts to use its almost $80 billion in funds, there have been more worries this tax season regarding audits.

There is no reason to panic, according to experts, as much as you maintain accurate records, even though the IRS expects to hire more employees, especially enforcement agents.

Yet, according to experts, several warning signs make an IRS audit extra possible. Preeti Shah, a certified financial advisor with Enlight Financial in Hamilton, New Jersey, noted that round values are a dead giveaway. She holds certification as a public accountant.

It’s crucial to use exact numbers instead of approximations on your returns while claiming tax advantages, according to experts. You are assuming when you use round numbers.

For instance, Shah stated that “the IRS believes you’re simply winging it” if a sole owner allocates $5,000 for advertisement, $3,000 for legal fees, and $2,000 for assistance.

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