Will my returns be audited by the IRS? It is a question asked of us many times throughout tax season.
Of course it is impossible to say with certainty that the IRS will not audit a taxpayer’s return but recent statistics from the IRS may give some comfort.
The IRS recently released data which suggests that due to continued budget cuts the number of returns being audited has fallen to its lowest level in 10 years. Less than 1% of the 1.47 million tax returns are now being audited.
Hopefully this gives some peace of mind to the many US taxpayers who are losing sleep worrying about possible audits.
All views and opinions expressed in the blogs are personal to the writer and may not necessarily be shared by everyone at TAP but our clients are always welcome to put forward alternative views and questions which we will endeavour to share via future blogs, where appropriate.
