The chances of being audited keep going down. According to a statement from IRS Commissioner John Koskinen to the Associated Press, the IRS audited less than 1% of individual tax returns in 2013, the lowest overall rate since 2005.
Expect the downward trend to continue due to budget cuts. Note: Last year, the IRS still audited 10.9% of individuals earning $1 million or more.
- Small Business Tax Deduction Strategies No matches