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.
11 ways to protect your practice from liability
The Minnesota Society of CPAs has compiled a list of red flags that could trigger an audit from the IRS if they apply to your clients' tax returns.
The Top 100 Firms get creative when trying to retain top talent.
The Top 100 Firms share their best strategies.
The firms with the highest 2014 revenue growth in our Top 100 Firms/Regional Leaders list
Looking for rich clients? Here's a ranking of the top U.S. universities by number of ultra-wealthy alumni.
7 things you can learn during tax prep to build a stronger client relationship
The IRSís annual pick of the worst of the worst
The Minnesota Society of Certified Public Accountants recently surveyed its CPA members in public accounting on the most outrageous tax deductions clients tried to take on their tax returns. Their responses included everything from pets and weddings to cars impounded by the police.
Technology will give fraudsters an edge in 2015, but it will also provide new tools for organizations and investigators, according to three experts from the Association of Certified Fraud Examiners who were asked for their top fraud predictions for 2015.