IRS May Not Audit the Medium Income Folks

December 23, 2009

ABC NEWS: Maybe there’s something to not being too rich, after all.

In that way, you can keep auditors from the Internal Revenue Service at bay — or at least, you won’t be hounded as much as Americans with fatter paychecks.

According to IRS statistics, people who file either individual or joint returns with earnings under $200,000 only have about a one percent chance of getting audited.

Folks who take home $200,000 or more, however, increase their chances of an audit by three percent, while six percent of Americans who make $1 million or above get a visit by the IRS auditor.

So far in 2009, the IRS has collected $48.9 billion from enforcement actions, which is actually less than 2007 and 2008 figures.

One more thing: if you receive an audit notice but are currently unemployed, the IRS might give you a break and list the money you might owe, but don’t have, as non-collectable.

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Written by Michael Lansing · Filed Under News

Comments

3 Responses to “IRS May Not Audit the Medium Income Folks”

John L. McCready, EA CRTP on December 24th, 2009 11:20 am

Most of the IRS Examination offices doubled their staff in 2009, so there is going to be a huge increase in audits across the board going forward. Also more mistakes, as the IRS is losing a lot of experienced agents and replacing them with rookie auditors.
Bruce on December 29th, 2009 9:32 am

Having been audited twice I don’t really believe the money angle on this story. The times I was audited I was manking about 20k.
Finding and Understanding Health Insurance in Georgia | Age Related Macular Degeneration Info on February 6th, 2010 5:53 am

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