Knowledge is protection when the IRS is involved. I'm Darrin Mish, a tax attorney in Tampa with 32 years of experience representing taxpayers nationwide. Here's what I want you to understand.
Here’s something that may cheer you up – the IRS reports a significant decline in the rate of audits done. Last year, the rate of audits (the percentage of individual tax returns flagged for examination by the IRS) fell to a measly 0.86%. That is the lowest it has been since fiscal year 2005.
Last year, only 1.2 million tax returns were audited which was less than in 2013 by about 162,000 cases and lower by almost 339,000 compared to 2010.
Read more about this interesting development here: