Your Chances of Getting Audited Are the Lowest in 25 Years
Your odds of getting audited this year are the lowest they’ve been in at least 25 years. The IRS has had some serious budget cuts, so they’ll have fewer agents auditing returns this year than any year since the ’80s.
And since they have fewer agents, they’ll have to focus on going after the Big fish. That would be the people who are making the most ridiculous claims or trying to cheat their way out of paying huge amounts.
Before you think about claiming your cat, dog or toaster as a dependant, remember this: Even if you don’t get audited, the computers could still catch you on a big red flag. Like, if your company reported that you made $50,000 and you report you made $40,000, the computer will catch that.
Honesty is always the best policy. But don’t forget to make sure that you’re are taking all the deductions you’re entitled to. There’s absolutely nothing wrong with making sure you’re getting as much of your return as possible.
The IRS audited less than 1% of people’s returns last year, which was the lowest amount since 2005 . . . and they say it’ll definitely be even lower this year.