Putting TRAC to Work |
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News Organizations |
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The Messenger Business |
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December 5, 2023 |
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Why Your Small Business Could Make You an IRS Target By Lynnley Browning |
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Non-business owners have fared far better. Some 4.9 out of every 1,000 people making at least $200,000 but less than $1 million who didn’t have business income were audited last year — a rate of 0.49%, according to IRS data analyzed by Syracuse University’s Transactional Records Access Clearinghouse. Partnerships — the favored structure of high-earning hedge funds, private equity firms, law firms and consultancies — faced a scant 0.9% rate over most of the last decade. |
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Copyright 2023
