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.

Source: Beyond415

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.

Source: Beyond415



CPAs and Tax Pros Gone Wrong

Some of our favorite examples of professionals breaking bad

View the slideshow >>


Accountants Giving Back

A look at the many ways different CPA firms are contributing to their communities

View the slideshow >>


2016 Summer Reading for Accountants

Short, useful reads for your summer vacation

View the slideshow >>


12 Questions to Ask Your Cloud Provider

Moving to Web-based apps? Get answers to these questions first.

View the slideshow >>


6 Tax Tips for Students Working Summer Jobs

Along with establishing a good work ethic and building time and financial management skills, a summer job also means learning about the obligatory duty of paying taxes. Here are some tips for tax clients with children working summer jobs from Abigail Schaffer, a staff accountant at Kessler Orlean Silver & Co.

View the slideshow >>


Tax Tips for the Armed Forces

The IRS has put together its annual selection of advice for members of the military

View the slideshow >>


6 Tips for Retaining Millennials

Bruce Tulgan shares the best ways to keep your young stars

View the slideshow >>


Top 15 Accounting Firm Taglines

Our favorite firm slogans from around the CPA profession.

View the slideshow >>


10 Tips for Fighting Tax-Related ID Theft

Constant vigilance is the price of fighting online fraud

View the slideshow >>


What to Do When Your Identity Has Been Stolen

A step-by-step guide for victims of ID theft (and their advisors)

View the slideshow >>



Subscribe to the Tax Pro Today newsletter