I am a 25 year old single male (do not have any dependents) I make between $30,000 - $40,000 a year and the only deductions i claim is for college tuition. What are my chances of being audited?
2007-01-25 11:44:15 · 6 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
You are likely to be "computer matched" at the end of the tax year. That means the W-2s reported by your employer better match your 1040. Other than that, your chance of audit is almost nil. So don't file a return saying you had $9000 in federal tax withheld when you really only had $2050.
Enrolled Agent / Tax Advisor
2007-01-25 12:12:13 · answer #1 · answered by WealthBuilder 4 · 1⤊ 1⤋
Depends. If the money you make is reported on a W-2 and you are an employee, probably not that likely.
If you are making money as a contractor or as a business owner and using Schedule C, it is more likely that you will get examined.
Fill out your return properly and you don't have to worry about it...
2007-01-25 11:54:30 · answer #2 · answered by Take Responsibility 2 · 0⤊ 0⤋
Probably not a lot. The overall chance is less than 1%.
2007-01-25 11:53:46 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Pretty low, unless your income is from your own business and you have a lot of deductions. Even then, would not be high.
2007-01-25 13:19:35 · answer #4 · answered by Judy 7 · 1⤊ 1⤋
no longer genuine basic for the typical individual. sure it varies with earnings (bigger earnings people get auditied greater) yet additionally with complexity of your return - whether you do no longer make lots, if something looks staggering to the computers approximately your return, you would be reviewed.
2016-11-27 02:04:43 · answer #5 · answered by ? 4 · 0⤊ 0⤋
Why are you asking? If you're not cheating, you have nothing to worry about.
2007-01-25 12:09:10 · answer #6 · answered by Cardinal Rule 3 · 1⤊ 0⤋