IRS Steps Up Enforcement and Audits of High-Income Taxpayers
The Internal Revenue Service reported that audits of individuals topped 1 million in fiscal year 2012 for the sixth year in a row, a coverage rate of 1.03 percent of all tax returns filed, while audits in the upper income ranges remained substantially higher than other categories.
All Accounting Today articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, podcasts, blog discussions, and conference discounts. Registered members may also choose to receive our exclusive Tax Pro Today e-newsletters covering the latest breaking news, opinions from industry leaders and developing trends.