 |
|
The Transactional Records Access Clearinghouse (TRAC) conducted a report examining the IRS audits in 2022 and found that low-income taxpayers remain the largest target of audits, with millionaires remaining at low risk of an audit. The reports find the class with the “high[est] audit rates – five and a half times virtually everyone else – were low-income wage-earners taking the earned income tax credit. In contrast, audits of millionaire returns have decreased where “[t]en years ago, the IRS in fact audited 40,965 returns filed by millionaires. This had fallen to just 11,331 audits of millionaires in FY 2020.”......[Citing TRAC data and reports].
|
|
|
|
