You just finished your tax return. What’s the chance you’ll get audited?

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Netter Capital Partners

You just finished your tax return. What’s the chance you’ll get audited?

The Associated Press reported Monday that your chances of getting audited are the lowest in years. “This year, the IRS will have fewer agents auditing returns than at any time since at least the 1980s,” the report says. Noting that less than one percent of individual returns were audited last year, the story quotes IRS Commissioner John Koskinen as saying that the audit rate will be even lower this year.

If you want some historic perspective, the IRS doesn’t make it easy. It has reported on annual audit rates for decades, but these figures are buried deep within PDFs of its annual reports. I dug up the audit rates going back to 1980, which I charted below.

audit rates by year

Last year did indeed mark the first time audit rates dipped below one percent since 2006. But the rate was…

View original post 134 more words

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