Signs That You Are About to Get Audited (Infographic)

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

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Starting, buying, or growing your small business shouldn’t be hard. Guidant Financial works to make financing easy for current and aspiring small business owners by providing custom funding solutions, financing education, and more.

Latest on Entrepreneur