Signs That You Are About to Get Audited (Infographic)

Free Book Preview Tax and Legal Playbook

Get game-changing solutions to your small business questions.
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Getting audited might be one of Americans' biggest fears, but what are the odds your turn will come up next? According to data compiled by the accounting resources directory, Best Online Accounting Degree.org, there were about 1.5 million audits conducted on taxes filed in 2011. That may sound like a lot, but consider that of the total 141 million returns filed that year, only 1 percent of people were actually audited.

High earners may have more to worry about, according to the data: 8.4 percent of individuals who made over $1 million a year were audited. On the bright side, the risk of being audited is lower for small-business owners. S corps and partnerships were audited only 0.4 percent of the time.

For more on signs that you might be audited, check out the infographic below.

 

Click to Enlarge+

Signs That You Are About to Get Audited (Infographic)

 

 

Source: BOAD

 

More from Entrepreneur
Our Franchise Advisors will guide you through the entire franchising process, for FREE!
  1. Book a one-on-one session with a Franchise Advisor
  2. Take a survey about your needs & goals
  3. Find your ideal franchise
  4. Learn about that franchise
  5. Meet the franchisor
  6. Receive the best business resources
Make sure you’re covered if an employee gets injured at work by
  • Providing us with basic information about your business
  • Verifying details about your business with one of our specialists
  • Speaking with an agent who is specifically suited to insure your business
Make sure you’re covered for physical injuries or property damage at work by
  • Providing us with basic information about your business
  • Verifying details about your business with one of our specialists
  • Speaking with an agent who is specifically suited to insure your business

Latest on Entrepreneur