IRS auditing more affluent taxpayers
By Paul Wilson
ProWEB Wire (Industry News)
The IRS has increased the percentage of audits on high-income taxpayers, according to statistics released Thursday.
The data show that 12.48 percent of taxpayers with incomes of $1 million or more were audited during fiscal year 2011, up from 8.36 percent in fiscal year 2010.
Meanwhile, the audit rate for taxpayers earning $200,000 or more was 3.93 percent in 2011, compared with 3.10 percent in 2010, the statistics said.
Only 1.02 percent of taxpayers with incomes of less than $200,000 were audited in fiscal year 2011, compared with 1.04 percent during the previous year.
In addition, 27.6 percent of corporations with assets of $250 million or higher were audited in 2011, up from 25.3 percent in 2010.