The IRS
reports that its enforcement budget has been cut by $254 million, a 5%
reduction from the previous year. As a result, the Agency expects to cut the
number of individual and business audits it conducts. In 2014 the IRS audited
0.86 percent of individual taxpayers and 26% of large corporations. Though
audit statistics show a decline in examinations, the IRS contacts many more
taxpayers with questions about their returns. Once statistics include these
taxpayer contacts, the 2014 return examination rate is closer to 4% or one in
every 25 returns filed.Monday, May 11, 2015
IRS tax audits cut by budget issues
IRS tax audits cut by budget issues
The IRS
reports that its enforcement budget has been cut by $254 million, a 5%
reduction from the previous year. As a result, the Agency expects to cut the
number of individual and business audits it conducts. In 2014 the IRS audited
0.86 percent of individual taxpayers and 26% of large corporations. Though
audit statistics show a decline in examinations, the IRS contacts many more
taxpayers with questions about their returns. Once statistics include these
taxpayer contacts, the 2014 return examination rate is closer to 4% or one in
every 25 returns filed.
The IRS
reports that its enforcement budget has been cut by $254 million, a 5%
reduction from the previous year. As a result, the Agency expects to cut the
number of individual and business audits it conducts. In 2014 the IRS audited
0.86 percent of individual taxpayers and 26% of large corporations. Though
audit statistics show a decline in examinations, the IRS contacts many more
taxpayers with questions about their returns. Once statistics include these
taxpayer contacts, the 2014 return examination rate is closer to 4% or one in
every 25 returns filed.
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