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2. What happens if an error is found during a tax audit? - AOL

   www.aol.com/happens-error-found-during-tax...

   The agency audited four out of every 1,000 returns filed for tax year 2021. According to Syracuse University, the poorest taxpayers were five times more likely to be audited than everyone else.

3. State and local tax deduction - Wikipedia

   en.wikipedia.org/wiki/State_and_local_tax_deduction

   In July 2021, House Representative Tom Suozzi and Senate majority leader Chuck Schumer, both Democrats from New York, pushed legislation in the U.S. House of Representatives to repeal the deduction limit. [31] In April 2021, as the Build Back Better Act was being debated in the House, a bipartisan group of House lawmakers formed the "SALT ...

4. Income tax audit - Wikipedia

   en.wikipedia.org/wiki/Income_tax_audit

   In the United States, an income tax audit is the examination of a business or individual tax return by the Internal Revenue Service (IRS) or state tax authority. The IRS and various state revenue departments use the terms audit, examination, review, and notice to describe various aspects of enforcement and administration of the tax laws. [1]

5. Taxation in the United States - Wikipedia

   en.wikipedia.org/wiki/Taxation_in_the_United_States

   IRS Form 1040 series is required for individuals, Form 1120 series for corporations, Form 1065 for partnerships, and Form 990 series for tax exempt organizations. The state forms vary widely, and rarely correspond to federal forms. Tax returns vary from the two-page (Form 1040EZ) [57] used by nearly 70% of individual filers to thousands of pages

6. 5 red flags that can trigger a tax audit from the IRS - AOL

   www.aol.com/finance/5-red-flags-trigger-tax...

   In the 2019 fiscal year, only 0.45% of the individual tax returns were audited, according to agency data, a rate that has significantly dropped in the last decade due to staff and budget cuts. But ...

7. 29 Ways To Prevent a Tax Audit - AOL

   www.aol.com/finance/30-ways-prevent-tax-audit...

   For the 2023 tax year, single U.S. residents must file Form 8939 if their foreign assets exceed $75,000 at any time during the tax year or $50,000 as of the end of the tax year. If you file ...