According to the IRS, these ten tax deductions are among those most frequently taken by tax filers and then later challenged and denied by the Service:
- Daughter’s wedding
- Speeding ticket
- Charitable donations
- Expenses to improve appearances
- Home loss as investment loss
- Home office deductions
- Entertainment expenses
It is not that these deductions would never be allowed in any circumstance but rather that taxpayers often do not meet the requirements to substantiate the deductions. In those cases the deduction is disallowed and an additional penalty and interest applies.
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