The IRS has new favorite people to audit

If you're an average taxpayer, you're 23 percent less likely to be audited by the IRS than you were just three years ago. Budget cuts have severely curtailed the agency's ability to delve into the tax returns of the less wealthy, according to Bloomberg Business.
 
However, if your income tops $200,000, you face a 2.2 percent chance of an audit, which is still a pretty slim likelihood you'll be picked for scrutiny. Bring in more than a million and the odds go to 7.5 percent, low enough that most folks in this bracket won't catch the taxman's eye.
 
So, who are the IRS paying attention to? Wealthy folks who live overseas, the report states. Their increases in chances for an audit shot from 2.5 percent in 2013 to nearly 5 percent, mostly because regulations on overseas investments have made filling out tax forms difficult, the report states.

Read more from Bloomberg Business.