Your Chances of an IRS Audit Just Went Up!

Описание: The IRS is set to increase audit rates with the new funding. While current audit rates are below 1%, the IRS plans to focus on high-income earners, those making over $400,000, according to their new strategic plan. However, there’s reason to believe that audits may not be limited to the wealthy, especially with the IRS hiring 87,000 new employees.

In this video, I'm going to break down what this means for you, regardless of your income level. We’ll discuss why the IRS may audit you, common triggers, and how to stay prepared.

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Hey there, and welcome to the channel! I’m Noel Lorenzana, a Registered CPA based in Illinois. Our mission here is to empower your financial journey with clear, trustworthy guidance on taxes, business, and alternative financial insights, so you can make confident, informed decisions without all the confusion or fear.

On, this channel, I simplify taxes for your business and offer tax tips for you! Let me know if there is anything you would like me to discuss. Feel free to connect with me on Social Media.

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Thanks for watching my video on, Your Chances of an IRS Audit Just Went Up

Disclaimer: This video, and the ideas presented in it, are for entertainment and informational purposes only and should not be construed as accounting, tax, legal, financial, or investment advice. It is your responsibility to independently verify any information before relying on it or taking action. Always consult with a qualified professional regarding your specific situation.

⏱️VIDEO CHAPTERS⏱️
00:00 - Introduction: IRS and Their New Strategic Plan
01:30 - IRS Audit Rates Chart For Different Income Ranges
03:51 - What Triggers An IRS Audit?
04:04 - Reasons Why The IRS Might Audit You.
04:08 - Number one. Large Deductions.
05:46 - Conclusion: Your Chances of an IRS Audit Just Went Up

Replay Video Link:    • Your Chances of an IRS Audit Just Went Up!  

#irsaudit #irs #irsupdate