Increased IRS Tax Audits (2011)
In 2007, the IRS increased tax audits which produced 22% more tax revenue (2007: $59B, 2006: $48B).
2007 IRS Tax Audit rates increased for both individuals and businesses as follows:
Individuals
1. Audits of individuals with income over $1 million increased 84%.
2. Audits of individuals with income over $200,000 increased 29%.
3. Audits of individuals with income over $100,000 increased 13%
Business
1. Audits of S-corporations increased 26%.
2. Audits of partnerships increased 25%.
3. Audits of general businesses increased 14%.
The recent decline in tax revenues (2009: $48.9B, 2008: $56.4B) portends increased IRS audits in Tax Years 2011 (forward).
