What are my chances of getting through an audit without owing additional taxes?
A minority of audit victims make a clean getaway. The IRS audits half as many taxpayers today as in the 1990s, but the take per audit has increased. The IRS, thanks to its sophisticated computer selection process, only audits returns in which adjustments are almost a certainty. Realize the odds are against you and focus on limiting the damage from an audit. (See Chapter 3.
Fewer than 25% of audit victims make a clean getaway. The IRS audits half as many taxpayers today as five years ago, but the take per audit has increased. The IRS, thanks to its sophisticated computer selection process, audits only those returns in which adjustments are almost a certainty. Realize the odds are against you and focus on limiting the damage from an audit. – Source: Nolo.
