IRS data indicate that fewer than 1% of all individual income tax returns are audited each year. That’s true, but some taxpayers are more vulnerable than others. For starters, the IRS is more likely to audit taxpayers who report high incomes because that’s where larger amounts of underpaid taxes might be found.
What’s Inside
- Dealing With an IRS Audit
- Deciding About a Vacation Home
- ESOPs as Retirement Plans
- Tax Calendar