Taxpayers hit with fewer audits

CNNMoney reports that because of budget cuts at the Internal Revenue Service, the agency is able to conduct fewer audits than it used to. Just over 1 million people were audited in 2013, down 5 percent from the previous year, the report states.

Most audits were conducted by mail rather than by a visit from the tax man.

There is one group that is still being audited, however: The rich. The report states that almost 10 percent of taxpayers making between $1 million and $5 million, 16 percent of those with incomes between $5 million $10 million, and 24 percent of those making more than $10 million can expect to be audited.

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