Because of the disruption caused by COVID-19, the IRS has extended the deadline for filing individual tax returns from April 15 to July 15. U.S. states have followed suit, with the majority moving their deadline to July 15 as well, and a few setting other dates later in the spring and summer. For many Americans stuck at home and struggling to keep their life in order, the deadline extension came as welcome news.
IRS audits are down compared to previous years. In fiscal 2019, the IRS audited less than 0.5% of individual tax returns. While that figure is much lower than in years past – it is about half of the rate in 2010 – there are some common mistakes that are more likely to prompt an audit or delay a return.