Audit Risk

[time1]

The Audit Risk Meter shows "high" for our return, apparently because of the figures submitted for my wife's business income, expenses and inventory. The figures are accurate but her gross income was only a few hundred dollars for the year, expenses were about half of income and inventory was large by comparison but still only a few hundred dollars. Is this really cause for concern? Thanks.

Tim Espar

[MayaD]

A high Audit Risk reading does not necessarily mean that you will be audited. The IRS randomly reviews a small percentage of returns regardless of audit risk.

As long as the information you have entered are correct and you are saving you documents and your receipts you should be fine.

[time1]

Thanks!