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Guess what? Last year, the IRS once again audited few millionaires and instead targeted many more low-income families, according to Syracuse University’s Transactional Records Access Clearinghouse (TRAC), which is a data gathering, data research and data distribution organization.
One of the areas the group looks at is tax data. In 2020, out of every 1,000 tax returns by millionaires, 2.0 were audited. For every 1,000 low-income wage earner tax returns, in which the filers qualified for the anti-poverty ETIC, 7.9 were audited.
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