Audit rate falls

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in Small Business Tax

The IRS recently announced that the 2013 audit rate for individual returns dropped to 0.96%, or one out of every 104 returns that were filed, down from roughly 1% in 2012.

This is the first time in seven years that this key indicator failed to reach the 1% mark. What’s more, tax experts predict that the rate will fall even further in 2014 as the IRS scrambles to make up for budget cuts.

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