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April 9, 2013

IRS Plans to Reduce Corporate Audits
By Michael Cohn

The Internal Revenue Service is planning an 18 percent reduction in its audits of large businesses in the current fiscal year, according to a new report. The report, from Syracuse University’s Transactional Records Access Clearinghouse, is based on an IRS planning document obtained under the Freedom of Information Act. The IRS document also 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 data from the IRS indicates a smaller decline in the audit rate for individual taxpayers. Tax audit rates for individual taxpayers fell by 5.3 percent in fiscal 2012, but because the number of returns filed had increased, the chances of audits fell at an even faster pace, by 7 percent. None of these downward trends take into account the expected impact of sequestration cuts, TRAC noted.

Transactional Records Access Clearinghouse, Syracuse University
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