IRS Increases Small Business Audits

 Smaller companies were audited 41 percent more often in 2007 than in 2005, and companies with $10 million to $50 million in assets were 29 percent more likely to be audited in 2007 than 2005, according to a study by Syracuse University's Transactional Records Access Clearing House. Meanwhile, the TRAC study showed that companies with more than $250 million in assets were nearly 40 percent less likely to be audited than in previous years. Click Here for the full article.

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