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NEW YORK (MainStreet) – If you're being audited by the Internal Revenue Service this year, you're either an unlucky or extremely unfortunate individual.
Budget cuts have steadily decreased the number of IRS audits from 1.4 million in 2013 to 1.2 million last year. IRS Commissioner John Koskinen told reporters in January that the number of audits would fall again this year after continued belt-tightening.
With the IRS budget falling 17% in the past five years, the number of audits this year is expected to hover around 1 million. Koskinen noted that his agency has left an estimated $6 billion to $8 billion on the table since 2010 because its enforcement division is understaffed by roughly 5,000 fewer employees than it needs. Further staff reductions should leave another $2 billion uncollected this year.
This isn't exactly making life easier on the few folks who do get audited. In fact, it makes a certain few increasingly subject to scrutiny.
Read More
Budget cuts have steadily decreased the number of IRS audits from 1.4 million in 2013 to 1.2 million last year. IRS Commissioner John Koskinen told reporters in January that the number of audits would fall again this year after continued belt-tightening.
With the IRS budget falling 17% in the past five years, the number of audits this year is expected to hover around 1 million. Koskinen noted that his agency has left an estimated $6 billion to $8 billion on the table since 2010 because its enforcement division is understaffed by roughly 5,000 fewer employees than it needs. Further staff reductions should leave another $2 billion uncollected this year.
This isn't exactly making life easier on the few folks who do get audited. In fact, it makes a certain few increasingly subject to scrutiny.
Read More
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