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April 18, 2011

IRS Completed Only 13 High Wealth Audits in 18 Months
By Noel Brinkerhoff

The Global High Wealth Industry Group of the IRS audited two returns in fiscal year 2010 and 11 during the first six months of FY 2011, according to the Syracuse University’s Transactional Records Access Clearinghouse (TRAC) after reviewing IRS records obtained through the Freedom of Information Act. TRAC also found that only 78 agents have been assigned to the new unit, compared to almost 5,600 agents working in rest of the Large Business and International Division, which also audits businesses with assets of $10 million or more.

Transactional Records Access Clearinghouse, Syracuse University
Copyright 2011
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