IRS Audit Risk Analyzer

The thought of an IRS audit can be a source of significant anxiety for many taxpayers. Our IRS Audit Risk Analyzer is designed to help alleviate this concern by allowing you to evaluate your potential audit risk factors and receive personalized recommendations to minimize them. This intuitive tool guides you through a series of pertinent questions covering various aspects of your tax situation. You’ll start by providing basic income information, including your annual income, filing status, and primary income source. The analyzer then delves into your deductions and credits, asking about standard vs. itemized deductions, charitable contributions, and whether you claim the home office deduction. Crucially, it prompts you to check which specific tax credits you claimed, such as Earned Income Tax Credit, Child Tax Credit, Education Credits, Energy Credits, or Foreign Tax Credit, as certain credits can sometimes draw more IRS attention. The tool also covers “Business & Special Situations,” inquiring if you’ve claimed business losses in the past three years, if you invest in cryptocurrency, or if you have foreign financial accounts. Finally, it addresses “Additional Risk Factors,” allowing you to check for common red flags like cash-intensive businesses, round numbers on tax returns, significant differences in income from previous years, unusually large charitable donations relative to income, or a history of prior audits or payments. By analyzing your responses, the tool provides insights into potential areas that might attract IRS scrutiny. This is an invaluable resource for individuals and businesses aiming for greater peace of mind and wanting to proactively ensure their tax returns are robust and minimize audit triggers. Our aim is to demystify audit risks, empowering you to file your taxes with greater confidence and accuracy.