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Top 5 Myths About Tax Audits

TurboTax Staff

An audit is arguably the most dreaded outcome of the tax filing process, and the situation carries with it some unsettling mystique. The standard nightmare has Internal Revenue Service agents with badges showing up on your doorstep, or the agency—seizing smorgasbord-style—the bulk of your personal assets. But audits contrast greatly from their thriving myths. For example, one of the most enduring tax audit myths holds that an audit is a common occurrence, but only about 1% of filers get audited, historically. Find out the real deal when it comes to IRS audits and why most audit concerns are unfounded.

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