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Trump, who is last known to have paid federal income taxes in 1977, was at little risk of the audits that the Wilkie firm warned him about. An analysis Syracuse University Professor Sue Long, co-director of the Transactional Access Research Clearinghouse, did this morning, at my request, of data that the IRS is required by court order to turn over to her shows how small the audit risk is even for wealthy people like Trump. In many years, fewer than one in 10 tax returns with positive incomes of $1 million or more get audited. Using TRAC data, I calculated that of the millionaire tax returns audited last year, the average examination lasted just 17.1 hours.
That means, statistically, that even if Trump’s tax return was audited last year an agent could spend less than one minute on each of what Trump says were more than 1,200 pages he filed with the IRS.
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