Mythbusters: IRS Audits Misconceptions Part 2


There’s other things like lifestyle audits. If you’re reporting that your mortgage interest is, you know, $30,000, but your income is $20,000, the IRS probably wants to know where you’re making money to pay for that. If you have no interest income, dividend income, investment income, they’re gonna look at the scope of the filing and say, “Hmm. I feel like there, this could be a gray area.”

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