Chances of Being Audited

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

What are your chances of being audited by the IRS? Not very high, according to the recently issued IRS Data Book. The annual publication contains statistical tables, IRS organizational information, and the rate at which the IRS audits tax returns. In 2017, the audit rate dropped to 0.6%, the lowest rate since 2002. In addition, the business taxes collected were $338.5 billion, down from $345.6 billion in fiscal year 2016. However, there were increases in the individual income, estate and employment taxes collected. Read the Data Book here: https://bit.ly/2uCTN5U

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