Internal Revenue Service audit numbers dropped again in 2020, continuing a downward trend that’s been occurring for years --- yet audit numbers for the rich...
Internal Revenue Service audit numbers dropped again in 2020, continuing a downward trend that’s been occurring for years — yet audit numbers for the rich appeared to be on the upswing.
But within the total 2020 count, 10,890 concluded audits focused on tax returns worth at least $1 million. That’s far from the 24,744 audits which ended in tax year 2011 for well-heeled returns that were worth at least $1 million. Still, it’s up from the 889 audits for the rich that were wrapped up in tax year 2018.
During fiscal 2020, the IRS had nearly 76,000 “full-time equivalent” positions — that’s a 20% drop from 2010. The fiscal year began in October 2019 and stretched into the pandemic, ending in September 2020.
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