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According to a new report by the Transactional Records Access Clearinghouse, in the current fiscal year, the IRS plans to devote 18 percent less effort to auditing companies with more than $10 million in assets than it did just two years ago. The agency has seen a $1 billion budget cut in the past year, and all of this comes before the effect of the sequester, which will slash $600 million from its budget this year. The IRS also projects that the amount of time available for specialized agents to conduct these audits will drop 14 percent as well, thanks to staffing cuts.
The IRS measures employee budgeted time in staff years, whose decline is shown in this chart:
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