Announcement

Collapse
No announcement yet.

Keep IRS auditors away: Earn less than $200,000

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Keep IRS auditors away: Earn less than $200,000

    Keep IRS auditors away: Earn less than $200,000 | The Seattle Times

    WASHINGTON – Want to keep IRS auditors away? Keep your earnings under $200,000 and they won't bother you 99 percent of the time.

    IRS enforcement numbers, released Tuesday, show that returns under that amount have a 1 percent chance of getting audited.

    Returns showing income of $200,000 and above have a nearly 3 percent audit chance. The percentage jumps to more than 6 percent for returns showing earnings of $1 million or more.

    The percentages apply to both individual and joint returns.


    Another little trick is to never use the pre-printed label the IRS might have supplied. Always use a blank envelope, and your own label. Despite stores that claim that this is a "myth" it remains true and you'd be wise to never use those pre-printed labels on your returns!

    This $200K threshold actually means something for those of us who are self-employed, as we can to some extent manipulate our reported income, or at least divide it into different corporations keeping each one under the threshold.
    Please read the forum rules before you post.

    And if you need extra help:
    Modee Tech Support
Working...
X