Everyone is fearful of an audit from the Internal Revenue Commission (IRS). An IRS audit causes panic and fear in most individuals and businesses.
However, the IRS has recently announced some good news for individuals regarding IRS audit rates. The IRS's own figures show that the overall individual audit coverage rate continues decreased in 2015 and declined over the past few years as well. Additionally, IRS statistics show that (1) IRS audit examination revenues decreased in 2015 and (1) the number of IRS employees that are responsible for collection and enforcement has decreased.
The IRS audits figures also show some good news for businesses. The audit rates for small corporations and large corporations have decreased. However, the only bad news from the IRS figures is that IRS audits for S-corporations and partnerships actually increased during 2015.
Longman & Van Grack’s Tax Litigation & Controversy Attorneys regularly represent clients in many different tax audits, tax matters, and IRS disputes. Robb Longman has assisted many clients through countless tax matters against the IRS and other state taxing agencies as well. If you would like to contact Robb or one of the other tax attorneys at Longman & Van Grack, you can reach us at (301) 291-5027.