The IRS has released some of its year end reports for 2011, including tax audit rates.  If you made over $1 million, and you escaped an audit in 2011, consider yourself slightly luckier than a Russian Roulette player.  The IRS audited 1 out of every 8 tax returns (12.8%) in this bracket, compared to 1 out of every 90 returns (1.11%) in brackets across the board.  That number stayed the same as 2010, likely due to diminishing numbers of tax returns being filed in 2011.

If you made between $200,000 and $1 million in 2011, you felt the audit pressure as well.  1 out of every 25 in this bracket (4%) were audited by mail or in person.  If you made less than $200,000 the numbers fell below the median audit percentage (to 1.02%). 

Translation, the IRS, with less money budgeted to it in 2012, has higher income-earners in its cross-hairs in attempting to close the tax gap.  These numbers are far from random.  The release of these statistics comes on the heels of the IRS' announcement of vamped up snooping techniques.  Clearly, the IRS has its eye on you! 

Private Eyes Are Watching You!                                                              Private eyes are watching you!

If you have become a target of an IRS audit, the IRS is very interested in collecting more than you paid, even if your return is 100% legit.  That means, you need someone in your corner to fight for your rights.  Call Travis Watkins in Oklahoma City at 405-607-1192 today.

Be the first to comment!
Post a Comment