Monday, June 22, 2009

Trend of Fewer Corporate Tax Audits Likely to Come to a Dead Stop

It appears that Corporate America has come to appreciate the joy in paying taxes because the IRS isn't doing as many corporate audits, according to a report put out by the agency.

It is pretty hard to picture the IRS being marginalized under a Republican administration but, "The IRS's enforcement staff has been whittled down in recent years, a response to fervent complaints by some U.S. lawmakers critical of what was characterized as aggressive tax collection."

We're curious as to what normal tax collection would be like. Or better yet, what about passive tax collection? Would IRS agents show up with fresh baked cookies and suffix all their requests with, "pretty please with sugar on top"?

It's a nice thought but with the Obama Administration proposing to double the IRS enforcement budget, the financial anal probes will likely be out there en masse. This is your warning tax scofflaws!

U.S. corporate tax audits down 9 percent: IRS report
[Reuters] Sphere: Related Content

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