And You Thought the IRS was out to Get You

Good news from the land of taxes. The IRS audit rate of individuals (.07%) and businesses (.05%) fell to a 10+ year low due to budget cuts.  Even high income taxpayers can feel the love:

Audits declined even for the high-income households that have been an enforcement priority for the IRS. In 2016, the agency audited 5.83% of returns with income over $1 million, down from 9.55% in 2015 and marking the lowest audit rate for that income group since 2008.

 

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