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The Entrepreneurial Mind
April 12, 2010

Entrepreneurship Under Attack
By Jeff Cornwall

A new study by the Transactional Records Access Clearinghouse (TRAC) shows that despite a growing federal deficit, IRS audit efforts aimed at the nation's largest corporations have precipitously declined in the last few years and now are at an all time low. TRAC reports that the average claimed tax underreporting per hour for small and medium businesses is $1,025, and for large corporations it's $9,354. The TRAC study shows that over the past few years, despite a big upswing in the number of hours auditing small and medium businesses, the number of no-change audits (audits that resulted in no change to the tax owed) has stayed approximately the same, and the number of dollars collected per hour has also stayed roughly the same. At the same time, the dollars collected per audit-hour of large corporations has gone from $6,594 in 2005 to $9,354 in 2009.

Transactional Records Access Clearinghouse, Syracuse University
Copyright 2012
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