Chance Of IRS Audits Rises Fast With Income

Article at the CBS MoneyWatch blog, Devil in the Details, has some interesting stats about IRS audits:

Roughly three in every 100 individuals reporting income of $200,000 or more were audited last year, while 8.36% of those with income above $1 million grappled with an audit.

It also has a few useful tips about what to do when you get that IRS letter.