If there are fewer than seven figures on your paycheck, it’s time to breathe easy. Research shows that the IRS isn’t much interested in auditing someone unless they’re racking in at least a $1 million each year.
That leaves just 1 per cent of the rest of taxpayers in the danger zone, according to information compiled by TurboTax.
It’s also worth noting that there’s an even slighter chance an IRS auditor will be knocking on your front door at all. The vast majority of individual audits are sent via snail mail rather than in-person visits (78% vs. 22%).
Free Tax Filing, Efile Taxes, Income Tax Returns – TurboTax.com
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