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Saturday, July 20, 2024

If you’re rich the IRS is coming to get you


The Internal Revenue Service is making it a bit riskier to cheat on your taxes.

The tax agency increased the number of returns it audited by nearly 11 percent this year, statistics released Wednesday show. Wealthy taxpayers and big businesses were most likely to be targeted.

The IRS also stepped up audits of charities and other tax-exempt organizations.

In all, the IRS examined more than 1.58 million individual returns in the budget year that ended in September, up from 1.43 million the year before.

“We saw individual audits increase, reaching the highest rate in the past decade,” said Steve Miller, IRS deputy commissioner for services and enforcement. “The bottom line shows enforcement revenue topped $57 billion, up almost 18 percent from last year.”

Overall, a little more than 1 percent of individual returns were audited, either by mail or in person. The IRS audited more than 8 percent of returns with incomes above $1 million.

Taxpayers filed nearly 143 million returns, including those from individuals and married couples. Nearly 389,000 taxpayers reported incomes of $1 million or above.

Corporate audits dropped slightly, by less than 1 percent. But there was a 7 percent increase in the number of audits of firms with $10 million or more in assets.

Copyright © 2010 The Associated Press

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1 thought on “If you’re rich the IRS is coming to get you”

  1. This story is BULL. The IRS is Robin Hood’s sick, twisted older bother – robbing from and abusing the Poor and Middle Class (what’s left of it) while letting the Wealthiest Old White male .5%-ERs run free to RAPE & PILLAGE the nation like the Green River Serial Rapist/Murder – on STYROIDS!

    Ameicans needs to unit and rein in the IRS because as it is, it’s morphed into precisely what Schiff, Warburg, Harriman, Rockefeller and h Brown Brothers always waned – a Collection Aency for the Wealthist and the Federal Reserve.
    To deal with this twisted appendage of the American Democracy, Americans cannot look to the BOUGHT Congress, BOUGHT Courts and BOUGHT Government. Amerians must realize hey do indeed have a choice – let the IRS type ‘Virus’ spread and finlly destroy this nation or rise up and shut it down!

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