The IRS only audits 1 percent of individual returns, so the likelihood of you getting that awful letter is low. Still, better to know what might trigger a red flag, right? I discussed what you need to know about IRS audits with CBS2 this morning.
Read More: IRS Audit Red Flags: 8 Things Not to Do
Jill Schlesinger
Jill Schlesinger, CFP® is the Emmy-nominated business analyst for CBS News. She covers the economy, markets, investing and anything else with a dollar sign on TV, radio (including her nationally syndicated radio show), the web and her blog, "Jill on Money." Prior to her second career at CBS, Jill spent 14 years as the co-owner and chief investment officer for an independent investment advisory firm. She began her career as a self-employed options trader on the Commodities Exchange of New York, following her graduation from Brown University.
