Wednesday May 18, 2022 – The United States Government Accountability Office recently released Report to the Chairman, Subcommittee on Oversight, Committee on Ways and Means, House of Representatives titled “TAX COMPLIANCE Trends of IRS Audit Rates and Results for Individual Taxpayers by Income.”
The Report found that In recent years, IRS has examined, or audited, a decreasing proportion of individual tax returns. This trend has raised concerns about the potential for
declining taxpayer compliance, as well as whether IRS is equitably selecting taxpayers for audit, as audit rates for
higher-income taxpayers have decreased more than audit rates for lower-income taxpayers.
Attorney Steven A. Leahy reviews this recent report and details how these changes may effect taxpayers on Today’s Tax Talk.
https://www.accountingtoday.com/news/irs-audit-rates-plummet-especially-for-wealthy
https://www.gao.gov/assets/gao-22-104960.pdf
Steven A. Leahy is a tax attorney in Illinois. He was the host of the long-running popular Radio Show “The IRS Radio Hour” heard every Sunday evening on AM 560 The Answer. Attorney Leahy is also the author of the book “Deal With Your IRS Problems Today!” You can get a FREE copy of this important book at FreeIRSBook.com. Or Call 24/7 (312)664-6649