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 things you and your clients will want to start thinking about for next tax season
MACPA members predict future growth areas
9 steps to take before and after a divorce, from the experts at HD Vest
The Internal Revenue Service regularly provides tax tips via email to provide timely reminders to taxpayers and preparers about tax breaks and requirements year-round, and its advice can be particularly helpful this summer.
Returns stats, ACA results and more from the 2015 filing season
The experts at HD Vest lay out the financial details that every couple should take care of before the big day.
Over the years there has been no lack of TV series about the legal and medical professions, but for some reason the accounting profession has received relatively little attention. It's time that changed and we have a few suggestions.
Short, useful reads for the profession
A slideshow of innovative social media from the accounting profession
Accountants from all walks of life are now on trading cards.