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Audit rates keep plunging

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in Small Business Tax

Expect correspondence audits rates to continue their downward spiral as the IRS struggles under budget cuts. The IRS says it plans to conduct about 140,000 fewer exams in 2014 than it did in 2013, down 13%.

These audits, handled through the mail, comprise approximately 75% of audits. The IRS was responding to a new report showing deficiencies in correspondence audits.

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