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Economy

How to decrease your audit odds

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Taxpayers who itemize deductions have to delay filing their returns until February 14 because of changes in the federal tax law.

It's here, or at least it's almost here: Tax day is tomorrow, April 15. 

You procrastinators are likely waiting until the proverbial 11th hour to file. Others may be already opening the envelope with their refund check. 

But lurking in the back of many minds is that nagging question: Will I get audited? 

In actuality, your likelihood of being audited is pretty low, about one in 100, although as your income increases, so do your odds. 

Let's find out how to decrease your chances of being audited, and the dos and don'ts if the IRS decides to take a closer look at your tax return.

Today we're joined by Detroit News Finance Editor Brian O'Connor. 

Listen to the full interview above.