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IRS Audit Rate for Millionaires Plummets

"Agency’s Previous Boast About Its Increased Focus on Wealthy Proves False...

The Internal Revenue Service’s audit rate for wealthy Americans sharply declined in the just-ended fiscal year, according to agency data obtained by the Transactional Record Access Clearinghouse (TRAC). The significant turndown in audits for richer Americans from FY 2007 to FY 2008 sharply contrasts with the IRS claim in a 2008 press release boasting that the agency was making "strong progress in a number of key enforcement areas," especially for "those with incomes of $1 million or more."..."
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Source: TRAC IRS | story via CPA Trendlines