New audit figures: IRS lightens up

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in Small Business Tax

The IRS has revealed that the audit rate for individual returns dropped from 1.11% in 2011 to 1.03% in 2012. Businesses had it even easier with audit rates of 0.71%, including rates of 1.12% for small C corporations, 0.48% for S corporations and 0.47% for partnerships. But 17.78% of returns of corporations with assets of $10 million or more were examined.

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