Make Under $500,000 a Year? Your IRS Audit Risk Is Under 1% — But One Common Mistake Can Change That

IRS audit rates may be falling, but tax filing errors still carry major risks. [Not the actual photo] (Credit: Kelly Sikkema | Unsplash)

Internal Revenue Service audits typically happen within three years after an individual files their tax returns. That time frame is subject to change, especially if discrepancies are spotted by the agency during the screening process.

However, IRS audits have noticeably gone down in the past years, particularly after US President Donald Trump repealed funding for the agency. Depending on how much a person makes, a tax expert shared that the chances of getting audited by the IRS have changed significantly.