If your income is $1 million or more, the chance that the Internal Revenue Service (IRS) has called you in for an audit is minuscule, according to new figures from the agency. So far, the IRS has audited 0.05 percent of those earning $1 million to $5 million in 2018, according to data released Monday. For those earning $10 million or more, that figure drops to 0.03 percent.

In total, the IRS has audited about 0.15 percent of individual returns from 2018. People claiming the earned income tax credit are most likely to face an examination, at a rate of 0.6 percent. An IRS official said the audit rates appear to be lower than in previous years because of a new way of calculating audits. Those figures will increase in coming years, as auditors open more cases before the three-year statute of limitations runs out.

The new calculations mean that the audit data is complete for returns filed in 2015 or earlier, IRS officials told reporters on a call Monday. That's because the statute of limitations has run its course on those returns so the agency isn't conducting further audits for those years. But for returns filed in 2016, 2017, and 2018—the last year covered by the new report—the IRS will update the figures annually until the statute of limitations runs out.

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