IRS audits

Last year IRS audited 0.9% of all tax returns and recovered $11.9 billion of unpaid taxes. So who are being audited? 

If you make $200,000 to $1 million there is a 2.2% chance you will be audited. I, you make more than $1 million your chances of being audited climb to 7.5%. With Congress cutting funds to the IRS, tax collection has dropped dramatically. IRS collected 15% less tax dollars from audits last year, a second year of decline. So our smart people in Congress are dealing with revenue shortages by cutting the budget for the IRS, the main revenue generator.