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Audit rates of the wealthy and large corporations have, unsurprisingly, also plummeted.
In 2012, for example, nearly every corporation with more than $20 billion in assets was audited. Last fiscal year, that share had dropped to just more than a third, according to Syracuse University’s Transactional Records Access Clearinghouse (TRAC). Such audits uncovered $10 billion in unreported taxes in 2012, vs. $4.1 billion last year.
Recently, some commentators expressed astonishment at the scale and brazenness of the tax fraud that New York prosecutors allege occurred at the Trump Organization. Members of the Trump family have more or less admittedto these alleged crimes on live TV, and suggested their tax dodges were so commonplace that they expected to never get caught. In a sense, they were right: The feds, at least, have all but given up on prosecuting tax crimes.
The number of federal prosecutions per capita referred by the IRS last year was about a quarter of its peak three decades ago, according to TRAC data.
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