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IRS: Audit rates have grown for wealthy

Posted By -NO AUTHOR- On 01/06/2012 @ 7:29 pm In Front Page,Money,U.S. | No Comments

(AP) — WASHINGTON – If you earn less than $200,000 a year, there’s a strong chance you don’t have to worry about an Internal Revenue Service audit. But if you make more than $1 million annually, the odds have been rising that you’ll be hearing from the tax man.

The IRS released figures Thursday showing that 12 percent of millionaire earners were audited last year. That’s up from 8 percent in 2010 and 6 percent in 2009.

The data shows that for those making under $200,000, the rate has stayed steady at around 1 percent in recent years.


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