In this video, we discuss what are the chances of being audited by the IRS for taxes and what audit triggers and audit flags increase your risk of being selected for audit. We get asked the question of what are the chances of getting audited and we respond with statistics. Statistics show that you have a higher chance or probability of an IRS audit if you are a higher income earner. We give the facts and statistics by the income ranges and the historical probabilities of receiving an IRS letter. You will see that the chances of getting audited are low, however, there are audit flags and audit triggers that can substantially elevate your audit risk. Beware of these audit triggers that will increase your risk of audit. We hope you enjoy this video about your odds of being audited by the IRS and knowing your tax audit risk.