Will Your Business Return Be Audited?

Nothing sends small business owners into nail-biting mode than news that they’re being audited. Even if you have all your ducks in order and can defend your deductions and support your income, the process is still time-consuming, costly and nerve wracking. There’s no way to determine exactly what brings about an audit, but there are common red flags and IRS data that show the frequency of audits performed in 2012 by return type.