According to an analysis of the report, the IRS has in recent years decreased audits and criminal investigations and levies mostly on large corporations, pass-through business, and high-income
The Internal Revenue Service is suffering from a shrinking staff resulting in less enforcement and fewer audits the cuts have largely benefited high-income filers and large corporations, according to a report published by the agency late last month.
The IRS has in recent years decreased audits, criminal investigations and levies mostly on large corporations, pass-through business, and high-income individuals,The Tax Policy Center went through the statistics provided in the 80-page IRS report and found that between 2010 and 2018 the budget of the IRS dropped significantly before being adjusted for inflation, from $12.4 billion to $11.7 billion. The agency's enforcement budget also fell to $4.7 billion in fiscal year 2018 from $5.
Audits are down 10 percent from last year, and down 42 percent since 2010. The majority of the cuts in these audits impact high-earning filers and corporations. Filers who made less than $25,000 had a higher chance of being audited last year than those making between $200,000 and $500,000. Between 2010 and 2018 the number of corporate audits fell by nearly 50 percent. The IRS collected $3 trillion in revenue in 2018, but only 7 percent of that came from corporations, the lowest proportion since 1960.
The Internal Revenue Service building stands on April 15, 2019, in Washington, DC. April 15 is the deadline in the United States for residents to file their income tax returns.
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