Agents: Are you an IRS audit target?

Real Estate Tax Talk

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: