Time Spent on Largest Corporation Audits with Assets of $250 Million or More

Number of Millionaire Audits*

Fiscal Year	Returns Filed**	Face-to-Face (field)		Correspondence (campus)		Total
Fiscal Year	Returns Filed**	Original	Revised	Original	Revised	Original	Revised
2004	190,372	5,857	5,857	3,719	3,719	9,576	9,576
2005	210,280	7,166	7,166	5,669	5,669	12,835	12,835
2006	270,161	9,312	9,459	7,703	4,728	17,015	14,187
2007	339,138	12,259	12,259	19,123	10,941	31,382	23,200
2008	392,776	12,233	***	9,641	***	21,874	***

* Millionaires were defined by IRS based upon total positive income reported, or in the case of the revised 2008 figure, total adjusted gross income. Generally a person's adjusted gross income will be the same or lower than his or her total positive income since AGI includes applicable adjustments that reduce the income. Accordingly, some individuals classified as millionaires under the TPI standard would fall in a lower AGI income. IRS reports that the audit rate for millionaires based upon AGI brackets is higher than those for taxpayers with lesser AGIs.

** Based upon prior calendar year filings with TPI of $1,000,000 or more.

*** Only audit rate reported by IRS; published figures did not give the number of audits or returns filed on which rate was based.

Sources:

Original figures: FY 2004 - FY2006 figures are from a January 2008 IRS press release; no other information on their basis has been released. FY 2007 figures are from the January 2008 IRS press release, and were later published in March 2008 in Table 9 of that year's IRS Data Book covering FY 2007. FY 2008 figures are from Table 9a of the IRS's FY 2008 Data Book published in March 2009.

Corrected figures: IRS has not released corrected figures for FY 2004 - FY 2005, but an IRS spokesperson confirmed Friday March 13, 2009 that he did not know of any errors in the original numbers. The source for corrected FY 2006 and FY 2007 figures is a set of tables the IRS posted on its website at the end of December 2008 (confirmed to TRAC on Friday March 13, 2009 as accurate by an IRS representative). Table 9b of the IRS's FY 2008 Data Book is the source for the corrected FY 2008 audit rate.