IRS Audits Down in 2016 and Beyond
IRS audits of individuals has dropped to an 11-year low. This of course makes taxpayers happy who, understandably, desire to avoid an audit. Let's face it, even when you think you’ve reported everything, fear of an audit is still in the back of your mind. Look, the tax code is complicated, fraught with gray areas.
Again, the good news is your odds of audit are low, and the odds appear to be dropping for the next 12 months. According the the IRS's own published statistics, the IRS is auditing less than 1 in 100 individual tax returns. The audit can be in person or by correspondence, but there’s a small chance of either. And recenlty the IRS Commissioner suggested that rate of tax audits will remain low in the foreseable. This is a relief for many of my clients.
Feel free to contact me if you have a tax question: 800 659 0525.