| IRS Finding Fewer Math Errors in Tax Returns |
| (15 Apr 2014)
Very timely information on IRS enforcement activity and income reported on returns over the past twenty years, including graphical highlights, have just been released by the Transactional Records Access Clearinghouse (TRAC).
Math errors found by the IRS are now at their lowest recorded level, 2.4 million errors detected in 1.7 percent of returns in FY 2013. Math errors found on tax returns have been declining after peaking in 2009; at that time, significant changes were introduced with the Economic Stimulus Act of 2008, including the rebate recovery credit. But IRS document matching efforts turned up over 4.1 million errors in 2.8 percent of returns during FY 2013.
Among U.S. counties, Duplin County, North Carolina had the largest number of exemptions claimed per federal income tax return (2.87), followed by Adams County in Washington State (2.79) and Shannon County, South Dakota (2.74). Residents of New York County (Manhattan) claimed the fewest exemptions per return (1.53) but had the highest average adjusted gross income nationwide at $159,410. For more on taxes, income and IRS enforcement go to: http://trac.syr.edu/tracirs/highlights/current/For data on counties, including the top 50 and bottom 50 counties in terms of different types of income reported on returns and for the number of dependents go to. http://trac.syr.edu/phptools/tracirs/taxes/To keep up with TRAC, follow us on Twitter @tracreports or like us on Facebook: http://facebook.com/tracreportsTRAC 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/ |
 |
 |
 |
 |
 |
 |
 |
 |
Copyright 2016