Can we hold our next Red Wedding at the IRS?

[quiller]

Here's some cold comfort for all of you sweating it out this weekend over your tax returns. Less than 1% of all returns are audited. And it appears they're too busy spending money to actually go collect it, with lowered (more specialized) number of audits.

The number of audits nowadays remains low. In fiscal year 2013, the IRS audited 1.4 million people. That's less than 1% of returns filed last year and the fewest audits in five years.

Even better news is that most of us aren't the target of IRS examiners. The tax collector has been focusing on the rich.

If you made less than $200,000 last year, your chance of being audited was just 0.88%. That's down from the 0.94% audit rate in fiscal year 2012.

Your audit odds increased if your income was between $200,000 and $1 million. Last year, 3.26% of returns filed by individuals in that income range were audited.

And if you made more than $1 million, almost 11% of returns got closer looks from IRS auditors.

Still, all those 2013 audit rates were down from the prior fiscal year.

http://www.foxbusiness.com/personal-finance/2014/04/08/red-flags-that-tempt-tax-auditor/?Intcmp=taxes