If you’re juggling work and family obligations and trying to get out of debt to boot, the last thing you need is a nastygram from Uncle Sam telling you that you have been selected for an I.R.S. audit. It’s a huge time sink and if things don’t go your way you may end up with an unexpected tax bill, not to mention new penalties and fees.

With a near-record deficit and lowered tax revenues as a result of the recession, the governement is looking to increase tax receipts through more aggressive enforcement.  The Treasury Department is looking to close the so-called ”tax gap” which is estimated to be approximately $350 billion. What this means, plain and simple, is more Americans staring down the barrel of I.R.S. audits.

Worse yet, for several years now we’ve been seeing the Feds auditing the middle class more often than before.

Avoiding an audit has always been a game of pluck and luck, and it’s difficult to know what the red flags are that can trigger a government computer spitting out your name. The biggest challenge is understanding how these factors can change from year to year.

CNN has a helpful guide to what may now get you flagged for a closer inspection of your 1040′s, W2′s and X16′s. (OK, I made that last one up.)

The things that you need to worry aboiut before hitting “send” on your e-file are as follows:

1. Taking lots of deductions as a self-employed individual. The I.R.S. is very concerned about folks writing off meals, trips and other expenses in support of a “business” that isn’t much more than a hobby and has little chance of turning a profit. You’ll need to keep meticulous records (always a good idea) to show all income and expenses related to running a business of your own.
2. Having a foreign bank account. If you’re required to file a U.S. tax return, you must report foreign bank deposits that exceed $10,000 at any point during the year on form 90-22.1. Overseas banks are cooperating with the U.S. government and you don’t want to get busted on this one.
3. Not calculating the cost basis of stocks correctly. With the market on the upswing and so many people in need of extra cash, a lot of returns will show stock sales in 2009. Read your brokerage statements carefully so that you are shoiwng the true profit/loss on your taxes.
4. Keeping charitable contribution records. Whether cash or non-cash donations, you want to be able to show receipts for all your kind givign.
5. Making a lot of money. High earns have always been a target for audits, and that hasn’t changed. If you make over a million dollars a year then a) you probably don’t need to be reading Debtbeat and b) you’ll want to engage a professional to assist with tax preparation. Because at your income level, mistakes can be very costly indeed.

And speaking of “professional” tax preparers… A lot of people hang shingles over their doors to make money during tax season. Don’t entrust your taxes to just anyone. And it’s always worthwhile to get a second opinion if you have a complext tax situation. Even the national tax preparation outfits have seasonal workers who may know less than you do.

Want to learn more about the audit process? Get info straight from the horse’s mouth at IRS.gov.