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The Internal Revenue Service knows this well, and that’s why it deliberately ramps up publicity of its tax fraud cases every year just before Tax Day. Notorious tax cheat Leona Helmsley was ordered to report to prison on exactly April 15, for example. Or consider this chart, from Syracuse University’s Transactional Records Access Clearinghouse (TRAC), which shows how many new prosecutions the Justice Department brings each month that are referred by the IRS.
Accordingly, audit rates have declined across the board, especially for mega-corporations. Accordingly, audit rates have declined across the board, especially for mega-corporations. Here, also from TRAC, is a chart showing that the amount of time IRS revenue agents spent auditing giant corporations (i.e., those with $20 billion or more in assets) fell by half between fiscal years 2010 and 2015. The recommended additional taxes that resulted from these audits also dropped by close to three quarters.
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