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Last updated on Friday, March 10, 2017
(UNDATED) - Your odds of being audited by the IRS are the lowest in more than a decade.
The tax agency reports the percentage of individuals' tax returns being audited fell to seven-tenths of a percent in the 2016 fiscal year.
That's the lowest since 2003.
To put it another way, you have a one in 143 chance of being audited.
Business owners also face declining chances of being audited.
Less than one-half of one-percent of small and large corporations, partnerships and so-called subchapter S returns were audited last year, the lowest rate since 2004.
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