WHAT ARE MY CHANCES OF BEING AUDITED? …
This is a common concern as many prepare to get their information together, either attempt to prepare their tax returns themselves, (“kids…don’t try this at home” …as they often used to say on TV.) or they get ready to sign off on their tax returns to be sent off to the IRS either electronically or via mail.
As that e-file button is pushed, there is usually some kind of a universal internal type of wish that nothing bad should come from what was just transmitted to the government.
Statistically and per the IRS saying directly, if one makes less than $200,000 a year, there is a good shot that you would not have to be concerned about an IRS Audit.
However, if you make more than $1 million per year, the odds have been increasing that you might get a letter or visit from the Tax man!
Steven Miller, the deputy IRS commissioner for services and enforcement said when interviewed, that the higher rates of audit for high income individuals are meant to show that the wealthy are subject to the same rules as everyone else.
It also makes for good business sense with limited resources, if the IRS casts a wider net for the “bigger fish” – they may hope for a bigger “catch” in terms of returns for their collection efforts.
If you are concerned about or already have IRS tax problems, our office may be able to assist you. Please contact our office at (305) 672-4272 or David@cpa-fl.com. Please also visit our main website at www.cpa-fl.com.
Read about this topic and the full story by Alan Fram of the Associated Press 1/6/12 as reported on Yahoo News on Yahoo.com: