Question

Suppose the probability of an irs audit is 1.1 percent for us taxpayers who file form 1040 and who earned 100,000 or more what are the odds that such a taxpayer will be audited?

Answer 1

The probability of an IRS audit for US taxpayers who file form 1040 and who earned $100,000 or more is 1.1%. This means that the odds of such a taxpayer being audited is 1.1/100, or 0.011.