Millionaires Face Near-Zero Chance of IRS Audit -- For Now

If you have an income of $1 million or more there’s less than a 1% chance that the IRS has called you in for an audit, according to new figures from the agency.

So far, the Internal Revenue Service has audited 0.05% of those earning $1 million to $5 million in 2018, according to data released Monday. For those reporting $10 million or more, that figure drops to 0.03%.

In total, the IRS has audited about 0.15% of individual returns from 2018, with people claiming the earned income tax credit most likely to face an examination at a rate of ...