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People who file electronically are more likely to be audited

Myth about Accounting

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People who file electronically are more likely to be audited

The majority of returns are now filed electronically. Pretty soon, e filing will probably be mandatory, so people have naturally begun to worry about the new system being more prone to audits. Yet, the IRS audit rate remains steady at less than 2% of all returns. The main audit triggers are the same as always, things like filing late, high self employment income and math errors.


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Accounting is for Men only
An Accountant will cost me an arm and a leg
I really don t need accounting reports to know how my business is doing
Owners don t need to spend time accounting
All certified public accountants (CPAs) are income tax experts
My Accountant Handles That Tax Stuff
It s expensive
Your Business Doesn t Need an Accountant
Accounting is only important at tax time
Manual accounting is fine If it isn t broke why fix it
Paying taxes is voluntary
People who file electronically are more likely to be audited
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