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The IRS has increased audits of small and midsize businesses, and has decreased its audits of massive corporations, according to a recent study by Transactional Access Records Clearinghouse, a research group at Syracuse University.
Among TRAC's findings: The IRS cut back the hours it spends auditing large companies -- those reporting assets of $250 million or more -- by one-third, even though those corporations have the highest underreported taxable income/assets. TRAC's report suggests that on an hour-by-hour basis, auditors recover $9,354 per hour from large corporations' filing errors, which is eight times higher than tax dollars recovered in audits of small and midsize businesses.
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