5 Tax Audit Myths You Can't Afford to Believe

5 Tax Audit Myths You Can't Afford to Believe

Many filers worry about having their tax returns scrutinized, but a lot of that fear boils down to misinformation. In fact, here are a few tax audit myths it pays to get to the bottom of. Less than 1% of tax returns are audited each year, so the chances of that happening to you are pretty low to begin with -- even less so if you report all of your income like you're supposed to.