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.