IRS barracudas go after the littlest fish

TaxProf Blog reports that according to the Internal Revenue Service’s recently released Enforcement Results for 2009, enforcement revenue is up 50 percent (http://taxprof.typepad.com/taxprof_blog/2009/12/irs-.html?utm_source=Newsletter&utm_medium=Email&utm_campaign=Morning%2BBell).

But the big, bad tax collector barracudas are going after the littlest fish in the pond: individuals, especially households earning more than $200,000 per year, whose audit rate has doubled since 2000; and small businesses with less than $10 million in assets, which also had experienced a higher audit rate even though total business audits were actually down 15 percent.

Chances of IRS agents demanding to see the books actually decreased for big businesses with assets over $250 million, who can afford lobbyists, highly-paid lawyers, and political donations. They were audited less this year under a Democratic administration than they were in 2000 under a Republican president.

So the oft-repeated canard about Republicans coddling big businesses at the expense of the “little guy” has again been debunked by the government’s own statistics.

Just Posted

SF to shut down 82 oil wells on Fresno County property

“Keep It in the Ground” legislation prohibits the extraction of oil, gas and minerals from city land

Central Subway contractor dispute threatens to bust budget

Muni’s $1.6 billion Central Subway project is nearly out of money. An… Continue reading

Lyft rolls out new rental bikes

San Francisco welcomed 2,400 electric-assist rental bikes on its streets Friday morning… Continue reading

Navigation Center opponents’ lawsuit sent back to SF

Judge declines to issue immediate injunction stopping construction of Embarcadero shelter

Judge quashes warrant to search SF journalist’s phone records

Police raids on the home and office of freelancer Bryan Carmody drew national attention

Most Read