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IRS audit rate drops

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in Small Business Tax

According to a news report from USA Today, in 2014 the odds of an individual taxpayer being audited dropped to its lowest level in a decade.

It fell to just 0.86% from 0.96% for the prior year, the lowest recorded rate since 2005. After steadily increasing from 2005 through 2010, the audit rate has declined 21.4% in the past five years.

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