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The very richest Americans have even less to fear from the IRS

Natasha Frost
The very richest Americans have even less to fear from the IRS

Shrinking budgets and staff at the Internal Revenue Service means the US’s tax collector is auditing returns at the lowest rate in more than 15 years, according to new data released by the agency today. For America’s wealthiest families—families with adjusted gross income of more than $10 million—audit rates were at their lowest since records began in 2008, at 6.66%, less than half the rate of last year. Households with incomes between $5 million and $9.9 million had an audit rate of just 4.2%, down from 8% last year.