Especially for the Rich
In 2011, the audit rate for taxpayers earning more than $1 million in income was 12% in 2011, up from 8% in 2010 and 6% in 2009. In contrast, only 4% of taxpayers earning more than $200,000 were audited in 2011, up from approximately 3% for the previous five years. Finally, the audit rate for taxpayers earning less than $200,000 remained around the 1% level, the same as it’s been for the past few years.
Overall, the IRS audited nearly 1.6 million of the 141 million individual returns in 2011, just above 1%. Back in 2001, only 0.6% of all taxpayers were audited.
Like any good CPA, I need to add a disclaimer: Unfortunately, it is impossible to offer comprehensive tax info over the Internet, no matter how well-researched or written. And remember, I love my readers, but having me bookmarked on your computer doesn’t make you a client: Before relying on any information