Big Fish Escape Scrutiny
IRS audits of big corporations are down 33 percent from 2005.
Monday, April 12, 2010
A Syracuse University study finds that the IRS spends a third less time auditing the books of big corporations—those with assets of $250 million a year or more—than it did in 2005, and it examines 22 percent fewer big corporate returns than it did five years ago.
The decline comes even as the biggest dollar amounts of underreported cash are found in big corporate books, and as Congress has authorized more agents with expertise in scrutinizing complicated returns.
Click here for more information on the report, which was compiled using data obtained under the Freedom of Information Act.