The Internal Revenue Service (IRS) has its crosshairs set on you, dear taxpayer. In recent years, the IRS has been ramping up its enforcement efforts, and it's not showing any signs of slowing down.
In 2022, the IRS conducted a whopping 1.2 million audits. That's a 50% increase from 2021. And the IRS isn't just going after the big guys. In fact, the majority of audits are now targeted at taxpayers earning less than $200,000 per year.
So, what can you do to avoid getting audited? Here are a few tips:
If you're audited, don't panic. The IRS is not out to get you. They're just trying to make sure that you're paying your fair share of taxes.