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With tax day approaching on April 17, it's worth noting that if you miss the deadline, the odds of receiving an audit from the Internal Revenue Service (IRS) are low.
Recent statistics show less than 1 percent of American individuals get audited by the IRS and only about 15 percent of Americans with annual incomes of $10 million or more get audited.
Also, less than 1 percent of small businesses get audited.
For so-called "corporate giants" — those with more than $20 billion in assets — there's still a very good chance, a bit more than 50-50, that they could get audited. However, the number of audits of these super-sized companies has dropped significantly over the last eight years.
According to a new report from Syracuse University, during the fiscal year of 2017, the government agency audited just over half, 54 percent (331), of these large companies.
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