The IRS May be Checking You Out on Facebook & Twitter
Why the IRS May be Monitoring Your Social Media Profile
I recently wrote an article 5 Red Flags that May Trigger an Audit for Small Business Owners. In the article, I noted some of the more common items that can trigger an audit by the IRS and/or the Minnesota Department of Revenue and what to do about them.
One interesting side note is that if you are being audited, tax authorities may monitor your social media profile as part of their investigation. If auditors are suspicious of high deductions, they may seek out any available information to either corroborate or refute your claims. For example, if you took a deduction for travel and entertainment, they may look at your tweets and Facebook postings from the trip. Were photos and tweets from the vacation professional or were they a party?
The next time you tweet or post to Facebook, consider that the IRS or the Minnesota Department of Revenue may be watching.
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