23 Feb 2025
The Inflation Reduction Act gave the IRS $80 billion in extra funds over 10 years, with a large chunk of that money to be used by the agency for enforcement activities. Congress has since clawed back a sizeable chunk of the funding, and Republican lawmakers are itching to entirely repeal the IRS's windfall. A retiree’s chances of being audited, or otherwise hearing from the IRS, can escalate depending on various factors, including the complexity of your return, the types and amounts of deduction or other tax breaks you claim, and whether you happen to still be engaged in a business. Keep reading for ten audit red flags that could increase the chances the IRS will give your return unwelcome attention.
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