March 28, 2006
Lifestyles: Only 30 out of more than 180,000 Millionaires Faced Traditional IRS Audits Last Year
March 28: Analysis of IRS data by the Transactional Records Access Clearinghouse (TRAC) further indicates that the audit rate for America's wealthiest taxpayers is substantially lower than for the poorest.
lgIt is not known whether the very low rate of face-to-face audits for millionaires reported in FY 2005 -- less than 2 out of 10,000 -- is new or whether the policy has been followed in previous years.
http://trac.syr.edu/tracirs/latest/current/
Posted by Stubbornson at March 28, 2006 08:04 AM