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Except that auditing involves tax return in which the IRS has suspicion that there is more income than claimed, right? So of all the people who reported income
by pwinnski 7y ago
Except that auditing involves tax return in which the IRS has suspicion that there is more income than claimed, right? So of all the people who reported income of less than $25,000, the IRS apparently believed that 0.69% of them actually had income of much, much more. Maybe millions.
- jfengel 7y agoIs that the kind of thing that would show up in an audit? That is, if you're hiding millions of dollars, you're not just fudging the numbers. You've got a web of places to stash money that aren't directly connected to you. It would take a deep investigation of your finances, not just an audit.
- Rapzid 7y agoI would be astonished if the IRS didn't use some sort of statistical analysis(AI) to trigger audits.
- londons_explore 7y agoI hope they have third party data sources (banks, employers, stockbrokers, house/boat purchasers, etc.). By cross referencing the third party data with the contents of your return (automatically), they should be able to make a shortlist of people likely to be failing to declare something.