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U.S. tax collectors plan to put 18 percent less staff time into scrutinizing the books of the biggest U.S. companies this year compared with the last two years, say internal documents obtained by a non-partisan watchdog group.
The Internal Revenue Service data apply to businesses with assets above $10 million for the 2013 fiscal year ending Sept. 30, according to an IRS plan that the Transactional Records Access Clearinghouse (TRAC) released on Tuesday.
The data also suggested individual taxpayers will be less likely to be audited, as well. IRS audits dropped 5.3 percent in federal fiscal year 2012 to 1,481,966 audits of individual tax returns, based on IRS data analyzed by TRAC.
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