Who Gets Audited by the Internal Revenue Service?

Who Gets Audited by the Internal Revenue Service?

(AP) Who gets audited by the Internal Revenue Service?
By The Associated Press
The Internal Revenue Service only audits about 1 percent of individual tax returns each year. But the more money you make, the more likely you are to get audited. A look at which returns were audited in the 2012 budget year:

___

Individual returns filed in the previous year: 143 million.

Audited by mail: 1.1 million.

Audited in person: 360,000.

Audit rate: 1 percent.

___

Individual returns with incomes above $200,000: 4.8 million.

Audited by mail: 109,000.

Audited in person: 70,000.

Audit rate: 3.7 percent.

___

Individual returns with incomes above $1 million: 337,000.

Audited by mail: 23,000.

Audited in person: 18,000.

Audit rate: 12.1 percent.

___

Small corporation returns (assets under $10 million): 1.9 million.

Audited: 21,200.

Audit rate: 1.1 percent.

___

Large corporation returns (assets $10 million and higher): 60,500.

Audited: 10,800.

Audit rate: 17.8 percent.

___

Source: IRS enforcement: http://tinyurl.com/agwzcon

COMMENTS

Please let us know if you're having issues with commenting.