What Are the Odds Ill Be Audited?
Actually, the odds are slim that you’ll ever be audited, but they have become more frequent in recent years as the IRS tries to close the tax gap (the difference between what is owed and what is reported and collected). Because two areas of abuse in 2008 were small businesses and tax-exempt organizations, the IRS may increase examinations in these sectors. Generally, the IRS doesn’t really have the personnel to examine every return they receive, but taxpayers should nonetheless be prudent about reporting all their income and careful with their deductions.
