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Willisms

« Trivia Tidbit of the Day: Part 720 -- Texas Rising. | WILLisms.com | Trivia Tidbit of the Day: Part 722 -- Texas Banks Outperforming National Banks. »

Trivia Tidbit of the Day: Part 721 -- IRS Audits.

Trend Solidifying-

A government big and powerful enough to give you everything you always wanted is also big and powerful enough to take it all away. Take IRS audits, for example:

audits.gif

* Enforcement revenue up 50% from 2000
* Individual audit rate up 100% from 2000
* A millionaire is six times more likely to be audited than someone earning less than $200,000
* Business audit rate down 15% from 2000
* The only businesses with a higher audit rate in 2009 than 2000 are small businesses (< $10m assets). The audit rate of larger businesses (including those with over $250m of assets) is lower in 2009 than in 2000

If we're getting to a point where the IRS is auditing individuals and small businesses rather than big companies, because big companies have the resources to bog them down, while individuals and small businesses don't, then government is simply too big and powerful.

You shouldn't need a team of attorneys to avoid being audited by the IRS.

-------------------------------------

Previous Trivia Tidbit: Texas Rising.

Posted by Will Franklin · 29 December 2009 09:51 AM

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