The IRS recently released its enforcement statistics for the 2013 fiscal year. The statistics show declines in the audit rates for all income groups. Here are a few highlights: For individuals, the overall audit rate in 2013 was 0.96 percent, which was the lowest rate since 2005. However, as you’d expect, the audit rates for individuals varied according to their income. Individuals with income under $200,000 had a 0.88 percent audit rate, those with incomes of $200,000 to $1 million had a 3.26 percent audit rate, and those with incomes over $1 million enjoyed a 10.85 percent audit rate -- more than double the rate for 2006. What about businesses? For small corporations (with assets under $10 million), the audit rate was 0.95 percent. Corporations with assets over $10 million had...
Jan 13, 2014 by Stephen Fishman
Jan 8, 2014 by Stephen Fishman