Money Shots: Why you definitely won't get audited


It's tax season again, and that means one thing: confusion. But before you stress over listing your Chia Pet as a dependent, keep in mind that, unless you're flat-out cheating on your taxes, the likelihood you'll get audited is pretty slim. Just don't run off to Namibia.

"The fact of the matter is, very few returns are audited -- fewer than one in 150," says Kiplinger Editorial Director Kevin McCormally. "And what gets the IRS's attention is if you put something on your return that paints a strange picture of you." I'm thinking, like, listing a hybrid vehicle credit for your Segway. But, really, this video explains it better:




AOL Money & Finance can help further, with this list of 10 Common Tax Mistakes to Avoid, like "don't forget to sign your name at the bottom of your return."

B. Brandon Barker is the author of the novel Operation EMU.

Reader Comments (Page 1 of 1)

Symbol Lookup
IndexesChangePrice
DJIA-111.8612,778.60
NASDAQ-17.672,909.56
S&P 500-9.591,342.36

Last updated: February 10, 2012: 01:28 PM

Hot Stocks

General Electric

18.905-0.225(-1.18)

Alcoa

10.31-0.33(-3.10)

Apple Inc

494.56+1.39(+0.28)

Google Inc 'A'

607.09-4.37(-0.71)

Bank of America

8.095-0.085(-1.04)

Wal-Mart Stores

61.50-0.46(-0.74)

Exxon Mobil Corp

83.73-1.15(-1.35)

Ford

12.385-0.305(-2.40)

Citigroup

32.93-0.73(-2.17)

IBM

191.68-1.45(-0.75)

Yahoo

16.21+0.21(+1.31)

Starbucks

48.80-0.40(-0.81)

Microsoft

30.55-0.22(-0.72)

Home Depot

45.225-0.045(-0.10)

DailyFinance Headlines

Benzinga Headlines

TheFlyOnTheWall.com Headlines

BioHealth Investor Headlines

WalletPop Headlines

DailyFinance BlackBerry App

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

BioHealth Investor Headlines

Page Loaded in 1328898503210 ms.