Individual taxpayers have less than a 1 percent chance of being audited Group of answer choices True False

Question

Business

Guest

6 May, 07:44

Individual taxpayers have less than a 1 percent chance of being audited Group of answer choices True False

+5

Answers (1)

Know the Answer?

Malcolm Cannon · Answer 1

Answer: True

Explanation: The chances of a taxpayer being audited by the IRS has decreased substantially over the last decade. This is in part due to a decrease in the IRS 's budget, an increase in their workload with a subsequent decrease in its enforcement workforce. In fiscal 2019 the IRS audited about 0.45% of individuals returns, and this figure decreased from 2018, which sat at 0.59%. Nowadays IRS focuses more on auditing the taxes of the wealthy, and organisations nationwide.