Count on it Tuesday: IRS Red Flags
Individual audit rate is only about one in 119, the odds increase dramatically as your income goes up. IRS statistics for 2015 show that people with incomes of $200,000 or higher had an audit rate of 2.61%, or one out of every 38 returns. Report $1 million or more of income? There’s a one-in-10 chance your return will be audited.