IRS will do fewer tax audits this year
By Jeanne Sahadi, CNNMoney
One million audits.
That’s how many audits the IRS plans to conduct this year, IRS Commissioner John Koskinen told reporters Thursday.
While 1 million is hardly small potatoes, it’s a lot less than the 1.4 million audits the agency conducted in 2013 and the 1.2 million it conducted last year.
The reason for the steady decline: Budget cuts that will leave the agency operating at a level that is 17% below where it was 5 years ago.