What Are The Odds That You Will Get Audited By The IRS

The threat of an “IRS audit” is enough to strike fear in the heart of any business owner. We all know about someone with a story about an audit from hell with an over-zealous collections officer. Tax season is around the corner, so you may have started to think about filing your taxes and what deductions you plan to claim. Audits can be an effective method to persuade people to be truthful in their tax returns, but what are the chances you will be audited?Q3 2020 hedge fund letters, conferences and moreThe answer may surprise you. On average, you only have a 1 in 260 chance of being on the bus…

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