IRS Audit Rate Nears 30% for Those Making $10 Million and Up

TOP STORY Sponsored by IRS Audit Rate Nears 30% for Those Making $10 Million and Up (Bloomberg) - The Internal Revenue Service in 2011 audited 29.93 percent of taxpayers who reported more than $10 million of income, according to statistics...That’s up from an audit rate of 18.38 percent in 2010 and 10.60 percent in 2009 for a group that consists of 0.01 percent of taxpayers.  ADVERTISEMENT Share our news via Twitter and Facebook, on your personalized news page. MORE HEADLINES Recognizing the Value of Management Accounting (The CPA Journal) - Management accountants are an important part of the accountants' value chain. They're involved in some of the more forward looking, value creating activities...  Bernanke Says US Job Market Weak Despite Gains (US News and World Report) - Chairman Ben Bernanke says the U.S. job market remains weak despite three months of strong hiring and that the Federal Reserve's existing policies will help boost growth.  Failure to Act on AMT, Extenders Could Delay 2013 Filing Season (BNA) - “We are very concerned about the AMT and extenders,” Shulman said at a hearing of the House Ways and Means Oversight Subcommittee on the current filing season and IRS's fiscal year 2013 budget request. “If they are not dealt with, we may have to delay the start of the filing season for many millions of taxpayers.”  The Best Free Software of 2012 (PC Mag) - It's simple math: Every year this list gets bigger and, consequently, the amount of money you can save gets greater.  Did You Know?... March 26, 1804: President Jefferson Presented With a "Mammoth Loaf" of Bread Click here for your Personalized State, Health, Travel, Sports, Entertainment, Science and World News. THE ACCOUNTANT 4-1-1 Packaging, Pricing & Naming Trusted Advisory Services Rental Real Estate Rules and Real Estate Professionals Brief Review for 2012 Tax Season (Individuals) Taxation IRS Audit Rate Nears 30% for Those Making $10 Million and Up Failure to Act on AMT, Extenders Could Delay 2013 Filing Season More Than 400,000 Organizations Automatically Lose Exempt Status IRS Provides Penalty Relief to Farmers Affected by MF Global Bankruptcy ? TEST YOUR TAX & ACCOUNTING KNOWLEDGE Best practices question - Click here to answer Have a question? Let experts and peers help you. ACCOUNTING/AUDIT Recognizing the Value of Management Accounting Technology The Best Free Software of 2012 How to Search for Cell Comments Using Excel The Big Bucks Behind Spam Business News Bernanke Says US Job Market Weak Despite Gains