IRS reports increase in audits and taxpayer services for 2007
AccountingWeb.com has recently posted the following:
During 2007 the IRS audited 84 percent more returns of individuals with incomes of $1 million or more than during 2006. Overall, enforcement revenue reached $59.2 billion, up from $48.7 billion in 2006 and nearly $34.1 billion in 2002.
Highlights of the enforcement and services numbers for fiscal year 2007, which […]
Washington, IRS more likely to audit millionaires
Washington IRS more likely to audit millionaires
There’s at least one advantage to not being a millionaire — less chance of being audited by the Internal Revenue Service.
The tax agency said Thursday that in the 2007 budget year it audited one out of every 11 with incomes of $1 million or more. Among those with […]
Cost for Unreported Income: 30 Months in Jail
Cost for unreported income: 30 months in jail
A Cohasset man was sentenced yesterday to 30 months in federal prison for failing to report more than $1.6 million in taxable income to the Internal Revenue Service between 2000 and 2004.
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