| New Data Show IRS Downgraded Large Financial Services Audits |
| (09 Apr 2009)
Newly released data from the IRS show that only 15% of large financial services companies -- those with $250 million or more in assets -- were audited in 2008, compared with 64% of all other similar sized corporations.
And when they were performed, these financial service audits appear to have been less thorough than those in other industries.
In addition, fewer of these audits were being performed by the IRS agency group with special expertise in large financial service corporations, while the number performed by other IRS groups more than doubled since 2004. These latest findings on the IRS, based on documents and data obtained by TRAC under the Freedom of Information Act, are available at http://trac.syr.edu/tracirs/latest/207/TRAC is self-supporting and depends on foundation grants, individual contributions and subscription fees for the funding needed to obtain, analyze and publish the data we collect on the activities of the US Federal government. To help support TRAC's ongoing efforts, go to: http://trac.syr.edu/sponsor/ |
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