|(09 Apr 2013)
Compared with just two years ago, the Internal Revenue Service (IRS) is planning a significant 18 percent reduction in auditing efforts focused on large businesses during the current fiscal year, according to a very timely IRS planning document obtained by the Transactional Records Access Clearinghouse (TRAC) under the Freedom of Information Act (FOIA).
The document further projects a 14 percent drop for the year ending September 30 in the available time for the specialized revenue agents required to conduct such audits compared to two years ago.
Other IRS data show a smaller decline in the audit rate for individual taxpayers, with the FY 2012 rate down 7 percent from what it was in the previous year.
None of these downward trends take into account the expected impact of sequestration cuts.
Many more details are included in the full report at:
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