Overall audit rates have fallen to 0.25% from 0.9% from tax year 2010 to 2019, according to a new report from the Government Accountability Office.
No matter the size of a household’s budget, the increasingly short-staffed and cash-strapped Internal Revenue Service has been conducting fewer audits in recent years — but wealthy households, while generally facing higher rates, have been seeing the sharpest decrease in likelihood of receiving an audit.
These are the findings of a new federal government watchdog report looking at IRS audits — and IRS funding levels — at a time when Democrats are keeping the volume cranked high on longstanding contentions rich taxpayers are not paying their fair share. “Although audit rates decreased more for higher-income taxpayers, IRS generally audited them at higher rates compared to lower-income taxpayers,” the GAO report said.For the 2019 tax year, people making up to $25,000 were facing a greater chance of audit rate versus households making between $25,000 and $500,000 .
Audits on the EITC are easier to carry out, the report said. But it’s also a complicated credit where improper payments can arise, the report added — a point that Republican lawmakers highlighted on Wednesday. “Instead of criticizing the audit rate, let’s fix the underlying problem,” with a better-designed credit, said Rice, who also noted that there could be more oversight of the paid tax preparers who prepare and submit EITC claims to the IRS.
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