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Fox News
January 24, 2023

SNOOP SCOOP: New GOP bill would put stop to IRS's $600 online reporting requirement
By Houston Keene

The Transactional Records Access Clearinghouse (TRAC) at Syracuse University examines internal IRS management reports each month, and the group noticed different trends by reviewing 2022 data. Most notably, the group looked at audits, particularly considering the agency relying more heavily on automatically produced letters sent to taxpayers. The data showed that the IRS conducted 85% of its audits through these letters, which request additional information and documentation related to specific items of interest. Overall audits dropped from 659,003 in FY 2021 to 626,204 in FY 2022 out of 164 million income tax returns filed last year. The rate of income tax audits for those in the lowest income bracket hit 12.7 per 1,000, compared to 2.3 per 1,000 among those in the highest – a nearly five-fold increase. The odds of a millionaire facing an audit were around 1.1%. The TRAC report claimed that the lack of attention toward millionaires resulted from "severe budget cutbacks over the years" that forced the IRS to shift its focus to "easy marks in an era when IRS increasingly relies upon correspondence audits yet doesn’t have the resources to assist taxpayers or answer their questions."

Transactional Records Access Clearinghouse, Syracuse University
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