Superaudits Bite The Dust
THE INTERNAL REVENUE SERvice's fishing expedition has been called off. The tax agency announced Oct. 23 that the Taxpayer Compliance Measurement Program--or "audits from hell"--would be postponed indefinitely. Under TCMP, the IRS planned to subject 153,000 individual and business taxpayers to intensive examinations, requiring them to verify virtually every item on their returns. The superaudits were designed to pinpoint likely areas of cheating so the IRS could target its regular probes more effectively. But the prospect of armies of auditors didn't sit well with the GOP Congress, fueling a drive to cut $400 million from the IRS's enforcement budget.