HUFFINGTON POST
03/23/2012 09:43 am ET

IRS Tax Audit: What Actually Happens When You're Audited

As we all prepare and file our tax returns ahead of this year's April 17 deadline, the sense that Big Brother is looking down at us -- making sure we dot our i's, cross our t's... and declare every penny we earned last year -- is natural.

But the fear that Uncle Sam will come knocking on our door if we make an unintentional mistake is somewhat overblown (unless, of course, you're a multi-millionaire). Only one percent of individuals were audited last year. And if you do happen to fall into that category, typically that just means a letter in your mailbox asking for additional documentation.

Our friends at TurboTax created this explanatory infographic looking at the odds of getting slapped with an audit.

Have you ever been audited? Tell us about your experience by emailing money@huffingtonpost.com

auditmisconceptions

Free Tax Filing, Efile Taxes, Income Tax Returns - TurboTax.com

-

CONVERSATIONS