IRS Audits - KMOV.com

IRS Audits

Some facts from the IRS study by the Transactional Records Access Clearinghouse at Syracuse University.

Since 2005, corporations with assets of $250 million or more, the IRS has cut back on the hours it spends looking at the books by 33%.  And large corporation audits in that time have dropped 22%.  Even more puzzling is this stat:  Last year large corporations accounted for 94% of all tax under-reporting with over $28 billion. 

The report also points to a "quota" system that it says is forcing the IRS to spend less time on more audits of smaller companies, even though it nets less money.

Something to think about as Washington tries to deal with a big deficit.

 

 

Powered by Frankly