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What Are the Chances of Being Audited?

@j2thevon

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Why it worked

The video addresses a common fear and provides clear, data-driven information about IRS audit chances, making complex financial information accessible and engaging through a conversational tone and visual aids like charts.

Summary

The video discusses the chances of being audited by the IRS based on income level. It highlights that people earning less than $25,000 annually have a higher audit rate, and provides a breakdown of audit probabilities across different income brackets, noting a 0.2% chance for those earning $25,000-$50,000.

Structure

1Introduction to IRS audit chances
2Misconception about low income and audits
3Data on audit rates by income
4Specific breakdown for $25k-$50k income bracket
5Concluding remark on taking chances

On-screen text

What Are the Chances of Being Audited? Reply to @mtnchips Hypothetically, would the IRS really audit someone if they "forget" to report just a couple bands in gross profits? Chances of Being Audited By The IRS Adjusted Gross Income Audit Rate 0 0.3% $1- $25,000 0.4% $25,000-$50,000 0.2% $50,000-$75,000 0.1% $75,000-$100,000 0.1% $100,000-$200,000 0.1% $200,000-$500,000 0.2% $500,000-$1,000,000 0.4% 1,000,000-$5,000,000 0.4% $5,000,000-$10,000,000 0.7% over $10,000,000 2.4% 1 of out 500 People how long does the IRS have to three years Generally, the IRS can include returns filed within the last three years in an audit. If we identify a substantial error, we may add additional years. We usually don't go back more than the last six years. The IRS tries to audit returns as soon as possible after they are filed. https://www.irs.gov/businesses IRS Audits | Internal Revenue About features feedback