Well your chances certainly have increased. The payoff for the IRS? $59.2 billion in enforcement revenue, compared to $48.7 billion in 2006 and $34.1 billion in 2002. The IRS filed 3.8 million levies and almost 700,000 liens during 2007, an increase from 2006.
Individuals audited in 2007 compared to 2006:
Income level | Audits in 2007 | Audits in 2006 | Percent increase |
$1 million or more | 31,382 | 17,015 | 84% (1 of every 11) |
$200,000 or more | 113,105 | 87,885 | 29.2% |
$100,000 or less | 293,188 | 257,851 | 13.7% |
This totals 1,384,563 individuals audited in 2007, up from 1,296,681 in 2006, an increase of 7% overall.
The IRS focused it’s business audits on mid-market corporations with assets between $10 million and $50 million. Audits in 2007 compared to 2006:
Business type | Audits in 2007 | Audits in 2006 | Percent increase |
S Corporations | 17,681 | 13,984 | 26 |
Partnerships | 12,195 | 9,777 | 25 |
Large corporation audits dipped slightly in 2007 to 9,644, although this is up 14% from 2002. This totals 59,516 businesses audited in 2007, up from 52,223 in 2006, and increase of almost 14% overall.
Source: WebCPA
