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The U.S. Internal Revenue Service collected $48 million in 36 audits completed under its Global High-Wealth initiative, according to a report by the Transactional Records Access Clearinghouse at Syracuse University in New York.
The report, which uses internal IRS reports obtained through a court order, said that 12 of the 36 finished audits resulted in no additional taxes being imposed.
“We’re now 2˝ years into the program and have very little to show for it,” said Susan Long, co-director of the research center and a statistician at Syracuse University. “It does seem to be rather surprising. And they’ve become very silent this past year about it.”
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