5 things to know about Tax Day: refunds are up, audits down

The AP reports:

The number of people audited by the IRS in 2016 dropped for the sixth straight year, to just over 1 million. That's less than 1 percent of filers.

The last time so few people were audited was 2004. Since then, the U.S. has added about 30 million people.

The IRS blames budget cuts as money for the agency shrank from $12.2 billion in 2010 to $11.2 billion last year.

But rich people beware. The higher your income, the more likely you are to be audited. Agents audited 5.8 percent of returns that reported more than $1 million in income.

Just a reminder.