The Internal Revenue Sercice is onto you, millionaires, so you best be careful as to how you spend all that money and file your taxes right. The IRS revealed in an enforcement report this week that they’re auditing more wealthy taxpayers for 2011 than 2010.
In the 2011 fiscal year, the IRS says it audited 12.5% of wealthy people, up from 8% in 2010 and 6% in 2009. If you make more than $200,000, 4% of you were audited, says the L.A. Times.
For the most part, however, if you’ve made less than $200,000, the IRS has left you alone, with only around 1% getting audited. Businesses with more than $250 million in assets are more likely to get audited, at 27.6% as compared to 1% making less than $10 million.
This might be the first time we feel okay not being rich.
Millionaires, the IRS has been auditing more of you [L.A. Times]