Scared of an IRS audit? You’re not alone – but debunking some common myths about getting audited can help you feel more confident.<\/p>\n\n\n\n
The chances of being audited for most people are slim. If you make less than $100,000 a year, you have a less than one percent chance<\/a> of getting an audit notice. Still, what should you expect on those rare occasions when you might get audited?<\/p>\n\n\n\n There are a lot of myths floating around that make an IRS audit even scarier. We’ll debunk some of the biggest ones here, so you can feel prepared if you get that notice in the mail. Keep reading to learn the truth about these top IRS audit myths!<\/p>\n\n\n\n E-filing seems wonderful – you can get your taxes done on your computer without having to drop anything in the mail. But does it make you more likely to get audited?<\/p>\n\n\n\n The answer is no. In fact, e-filing might even make you less likely to get audited. When you file a return electronically, there’s always less margin for human error, so your return is less likely to raise any flags<\/a> for the IRS.<\/p>\n\n\n\n Although the IRS doesn’t give out statistics on which kind of return gets audited more, it’s very reasonable to assume that e-filing reduces the chances of an audit<\/a>. Paper returns are subject to more mistakes since no computer is giving them a final once-over.<\/p>\n\n\n\n Late filing actually has nothing to do with your likelihood of getting audited.<\/p>\n\n\n\n Although the IRS also doesn’t give statistics on how likely late filers are to be audited, but if you’ve filed your return late or using an extension, there’s no reason for the IRS to think that you haven’t filed it carefully. If anything, it’s more likely that you took care to not make any mistakes if you filed late.<\/p>\n\n\n\n If you need an extension to get your taxes done properly, don’t hesitate to request it. Taking more time to do your taxes right is better than submitting a return that you know isn’t done well just so you can make the deadline.<\/p>\n\n\n\n Whether or not it’s late, a tax filing that has problems<\/a> in it is always more likely to get your audited. Plus, you’ll probably need to make corrections later, so you won’t really be saving any time by sending it in now.<\/p>\n\n\n1. You’re More Likely to Get Audited When You E-File<\/h2>\n\n\n\n
2. You’re More Likely to Get Audited if You File Late<\/h2>\n\n\n\n