Tax Stats: June 2012
Our monthly collection of statistics from the world of tax
Our second tax stat for June shows why so much effort at the IRS is going into automated systems -- they bring in more money.
Systems, it seems, are more efficient than people: IRS field audits yield by far the lowest ROI. So it's a good thing the service did only 525,000 of them (for 1040s only), compared to 1.2 million mail audits, and 4.7 million CP 2000 notices.
Automated matching systems at the IRS send out millions of notices of underpayment to taxpayers, and add $6.5 billion annually to the U.S. Treasury -- but they're not as scary as they seem: Fully a third of notices result in no additional tax.
The third edition of our annual report highlights 10 outstanding accounting firm leaders.
The pressure to stand out in a sea of applicants may tempt job seekers at accounting firms and other businesses to be less than honest on their resumes. When CareerBuilder asked about the most unusual lie they've ever caught on a resume, employers recalled these doozies.
Tips to help professionals stand out (in a good way)
The steps businesses should take to protect against a credit card breach, according to the AICPA
Tell-tale indicators that your rock stars are eyeing the door
The most influential people in the field of accounting, as chosen by their peers.
Accounting Principalsí list shows where your next job should be
Productivity can be a big problem, even at major accounting and tax firms and other types of businesses. Employers recently shared some real-life examples with the staffing company CareerBuilders of some of the more unusual things they've seen employees doing when they should have been busy working:
Rising education costs mean clients canít pass these up
Critical challenges facing Americans and their advisors