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 fourth edition of our annual report highlights eight outstanding accounting firm leaders.
Provisions that are likely to be passed – however late
A slideshow of education-related tax opportunities
Tips for improving your “online reception area”
The most influential people in the field of accounting, as chosen by their peers
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