Afraid of an IRS Audit? It's Not As Bad As You Think

Afraid of an IRS Audit? It's Not As Bad As You Think

DailyFinance.com

Filed under: Taxes

No one is claiming that an IRS audit is a cakewalk. But rest assured, a tax audit is probably less likely -- and less gruesome -- than most people fear.

For starters, last year, only about 1% of taxpayers with incomes under $200,000 got audited. (If you're a millionaire, it's a different story -- fully 12% of them were audited, up from 8% in 2010 and 6% in 2009.)

Then there's the timing issue. The IRS isn't allowed to swoop down upon you just any old time. In most cases, the agency has only...

Afraid of an IRS Audit? It's Not As Bad As You Think originally appeared on DailyFinance.com on 2012-02-20T07:10:00Z.

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