The 10 People Most Likely To Be Audited. Are You One Of Them?
People Who Make Large Purchases and Deductions
Cash transactions in excess of $10,000 (think banks, car dealerships, and casinos) are reported to the government. Large cash purchases or deposits always draw the IRS’s attention. They are also interested when deductions on your return don’t match up with your income. In both cases, it is important to have proper documentation.
C. Cleveland covers professional development topics and entrepreneurial rebels who blaze their own career paths. She explores these stories and more on The Red Read, Twitter (@CleveInTheCity) and Facebook (/MyReadIsRed).