March 28, 2006

Our Tax System: Higher Audit Rates for Lower Income Taxpayers

Paul Caron:
The Transactional Records Access Clearinghouse (TRAC) of Syracuse University reports  today that only 30 of the nation's 180,000 plus millionaires were subject to face-to-face audits in FY 2005. When only traditional face-to-face audits are considered, those reporting less than $25,000 in total positive income were six times more likely to be audited than all those reporting $200,000 or more in income. IRS continues to withhold from TRAC statistical data it has made public in the past that might explain the aberration.

Posted by James Zellmer at March 28, 2006 6:17 PM | Subscribe to this site via RSS:
Posted to Taxes