This article appeared online at TheNewAmerican.com on Thursday, February 23, 2017:
Seven years ago the Internal Revenue Service (IRS) audited one out of every 90 individual income tax returns. Last year it was one out of every 119. This year it is expected to be just one out of every 143. And for those who don’t include a Schedule C or other special (i.e., tax shelter, farm income) forms, the audit rate drops even further: one out of every 330.
Even high-income earners (over $1 million a year) can breathe easier, at least for the moment. In 2015, the agency audited nearly 10 out of every 100 of those returns while this year it’ll only be able to audit