Thursday, March 22, 2012

The IRS going after the 1%

The latest statistics show that almost 30% of those who reported making $10mm or more were audited last year. That's up substantially from the previous year when the number was closer to 18%. The rationale has to be that per dollar spent on audit, one can extract the most from the "1%". Auditing poor people is simply inefficient. The chart below shows the percentages of people audited in each (reported) income bracket. Also attached is the full IRS statistics report.

Percent of people audited for each income bracket (Source: IRS)

IRS Stats
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