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November 18, 2004
Small Businesses Face Fewer IRS Audits
The AP reports that audits of small businesses dropped by almost half in the past year because the IRS has diverted money and employees to investigating wealthier taxpayers and abusive tax-shelters (IRS audited 40% more high-income taxpayers compared to last year while hauling in a record $43 billion in unpaid taxes). The IRS released these statistics in hopes of getting an extra $500 million from Congress to track down tax evaders.
Posted by Nick Infusino at 05:38 PM in Small Businesses | Permalink
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