Long-term Prognosis for Federal Tax Audits?

By: Robert B. Teuber

Syracuse University has released its analysis that Federal tax audits of corporations with $250 million or more in assets have declined by 34 percent since 2010.  Compared to the same time last year, there has been a 22 percent decrease in these large business audits.  Undoubtedly this decrease is due to the overall reduction in the funding of the IRS over the past many years.  Notwithstanding this reduction, the IRS has also indicated that federal tax audits of partnerships are expected to increase following a change in partnership audit rules.

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