Do you wonder what your odds are of being selected for an IRS audit? Statistics just released for tax returns filed in 2011 and audited in 2012 show a 1% audit rate for individual tax returns. About 3.6% of business returns with income under $200,000 were audited; returns with income over $200,000 were audited at a 3.4% rate. Large corporations had a 17.8% audit rate, while small corporations had a 1.1% rate.
What Are Your Audit Odds?