Tuesday, March 28, 2006
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.
Update: From TRAC:
After this report was posted this morning (3/28/2006), the IRS contacted TRAC and informed us that the official IRS numbers were not correct. In an effort to understand the reasons for this error, TRAC has requested additional information from the IRS. A follow up report will be posted if it is warranted.