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April 11, 2013

IRS Plans to Cut Back Auditing of Large Corporations
By Noel Brinkerhoff, and Danny Biederman

The Internal Revenue Service (IRS) has decided to spend less time auditing multi-million dollar corporations. Under a new plan revealed to Syracuse University’s Transactional Records Access Clearinghouse (TRAC), the IRS will expend 18% less effort auditing businesses with assets of $10 million or more compared with just two years ago. The agency also sees itself devoting 14% less time for specialized revenue agents to conduct corporate audits in FY 2013, compared to what was allocated in FY 2011. There has been less of a drop in the rate of individual taxpayer audits—5.3% in FY 2012, moving to 7% due to an increase in number of filed returns.

Transactional Records Access Clearinghouse, Syracuse University
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