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The Internal Revenue Service audited fewer taxpayers last year, according to a new report, although audits of millionaires ticked up slightly.
The report, released Wednesday by Syracuse University's Transactional Records Access Clearinghouse, found that in fiscal year 2022, the IRS audited 626,204 returns (out of more than 164 million individual income tax returns filed), down from 659,003 during FY 2021. The IRS is increasingly relying on correspondence audits. Only 93,595 of the audits were regular audits, compared to 532,609 correspondence audits, with about 85% of audits conducted through the mail.
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