WKYT | Lexington, Kentucky | News

IRS says audit rates have grown for the wealthy

If you make less than $200,000 a year, there's a strong chance you don't have to worry about an Internal Revenue Service audit. But if you make more than $1 million annually, the odds have been rising that you'll be hearing from the tax man.

The IRS released figures Thursday showing that 12 percent of millionaire earners were audited last year. That's up from 8 percent in 2010 and 6 percent in 2009.

The data shows that for those making under $200,000, the rate has stayed at around 1 percent in recent years.

The IRS says the growing audit rate for high earners is aimed at demonstrating that the tax code is being enforced fairly and is unrelated to President Barack Obama's recent proposals to boost taxes on the rich.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus


2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Register for Email
RSS Feeds
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 136803403 - wkyt.com/a?a=136803403
Gray Television, Inc.