Agents: Are you an IRS audit target?

Real Estate Tax Talk

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Every year, the Internal Revenue Service releases detailed statistics about who got audited the previous year. The stats for 2011, covering 2010 returns — have recently come out and they paint an unpleasant picture for many real estate professionals — particularly the successful ones.

The percentage of business and nonbusiness returns that got audited in 2011 is shown in the following chart: