Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 05-20-2011, 12:32 PM
Junior Member
 
Join Date: Feb 2010
Posts: 4
What is the overall IRS Audit Rate for Individual Tax Returns in 2010?

I think our members would be interested in knowing that "What is the overall IRS Audit Rate for Individual Tax Returns in 2010?"

For the tax year 2010, the IRS has released statistical information that approximately "1.11% of all taxpayers will face an examination of their individual income tax return's". This represents the highest rate on record and taxpayers on extensions need to be aware of this fact whilst filing their 2010 tax returns after April 2011.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 05-21-2011, 11:48 AM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,417
Blog Entries: 3
I agree with your conclusion that taxpayers who have filed an extension should not be aggressive with their deductions, and all deductions should be supported with proper documentations.

The IRS would assess substantial penalties during an audit if taxpayers cannot provide support for deductions claimed on the tax returns.

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Must I amend my 2008 and 2009 tax returns in order to claim the Standard Mileage Rate and Depreciation for 2010? NewbombTurk Itemized Deductions 4 03-27-2011 10:09 PM
What are the latest changes to the 2010 California Individual Income Tax Returns? TaxGuru California 0 01-29-2011 12:30 PM
What are the most important 2010 changes to the New Jersey Individual Income Tax Returns? TaxGuru New Jersey 0 01-24-2011 10:41 AM
What is the filing deadline for the 2010 New Jersey Individual Income Tax Returns? TaxGuru New Jersey 0 01-24-2011 10:23 AM
"Seven Circumstances" that can trigger a possible audit by the IRS for an individual taxpayer in 2010?? TaxGuru For 2010 0 11-15-2010 10:31 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.