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Small Business Tax Tips: 3 Reasons To Benefit From IRS Audit Rates

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Executive Summary

Who's afraid of the IRS? Let's face it: We all are! And with good reason. IRS horror stories abound, and we all know someone who's been through an IRS audit and barely lived to tell about it. So the purpose of this paper is to help calm those fears. Do you have any idea how many tax returns are audited every year? About 1%, give or take a few tenths of a percent, depending on how much money you make, what type of business entity you own, the size of your business, and where you live (yes, audit rates do vary somewhat from one part of the county to another).

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