The audit rate for the rich collapsed
The Internal Revenue Service audited only 0.59% of individual income tax returns last year, the lowest audit rate since 2002, according to thereleased today. A closer look shows that it’s the highest earners whose audit rate has dropped the most.
For households with AGI between $5 million to $10 million, the audit rate dropped from 7.95% to 4.21%. By comparison, for households with AGI under $200,000, the audit rate dropped slightly, stayed the same, or climbed .
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