The Internal Revenue Service said it has increased its enforcement efforts, auditing 84 percent more returns in fiscal year 2007 of individuals with incomes of $1 million or more compared to fiscal year 2006.
The number of those taxpayer audits jumped from 17,015 in fiscal year 2006 to 31,382 in fiscal year 2007, which ended Sept. 30. One out of 11 individuals with incomes of $1 million or more faced an audit in 2007.
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