IRS Audits Few Large Corporations Or Wealthiest Individuals

A newly released report by The Transactional Records Access Clearinghouse, (TRAC) at Syracuse University shows that the IRS audit rate for the nation’s largest corporations ($250 million or more in assets) has dropped to its lowest point since the Reagan administration. In fact, IRS has shifted auditors from the larger to smaller corporations.

In 2007 individuals paid 71% of gross taxes, and corporation paid 23%. An earlier TRAC study that showed that the IRS conducts face-to-face audits on a smaller percentage of millionaires than low-income taxpayers.

To avoid future reports by indepedent researchers IRS is also seeking a court order to bar future access to agency statistics that are essential for this report