American retirees may be done with their working careers, but they may still face the scrutiny of an IRS audit if their tax return raises red flags.Data from the IRS shows the tax collection and enforcement agency has conducted audits on fewer than 1% of individual tax returns in recent years. In the tax years from 2014 through 2022, the IRS reported that it examined 0.4% of all individual tax returns filed – though that figure rises to 7.9% of taxpayers who filed returns with income of $10 million or more.Retirees generally have simpler tax returns that may not involve the kinds of tax credit...
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