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Tax Audits Decrease as IRS Takes Longer to Scrutinize Wealthy

May 17, 2022, 3:17 PM

Tax audit rates at all income levels have declined in the past decade as the time it takes IRS agents to complete audits of top-earners has more than doubled, according to a new watchdog report.

The IRS has scaled back audits of all taxpayers between 2010 and 2019, with the total audit rate falling to 0.25% from 0.9%. The largest drop has been among those reporting $5 million or more, who have a 2.35% chance of being audited down from more than 16% a decade ago, according to an analysis from the Government Accountability Office released Tuesday.

The drop ...