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April 9, 2013

IRS to spend less time auditing big US companies in 2013 -report
By Kim Dixon

The Internal Revenue Service data apply to businesses with assets above $10 million for the 2013 fiscal year ending September 30, according to an IRS plan that the Transactional Records Access Clearinghouse (TRAC) released on Tuesday. Less IRS time analyzing corporate accounts could mean greater tax evasion, the watchdog said. The research group based at Syracuse University in New York State obtained the document through a Freedom of Information Act request that the IRS fought in court and lost. "The fact that audits are down potentially means less compliance, which is going to produce very difficult choices in the year ahead," said David Burnham, the co-director at TRAC

Transactional Records Access Clearinghouse, Syracuse University
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