Dustin Rinaldi Shares Red Flags that Could Alert the IRS
The IRS audited approximately 1.4 million individual tax returns filed in 2012.1 That amounts to approximately 1% of 146 million individual returns filed that year. However, fewer than one-quarter of those audits involved face-to-face meetings with IRS auditors. The rest were conducted through the mail. Filers earning less than $100,000 had a .58% chance of being audited. Among filers with income exceeding $200,000, the audit rate was 2.06%; for those earning more than $1 million, it climbed to 9.20%. Audit…