Super-Rich Americans Aren’t Getting Audited as Much, New IRS Data Show
- People making $10 million saw exam rate drop by more than half
- Affluent but less wealthy also less likely to be audited
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The chances of an IRS audit for people making at least $10 million a year plunged during the government’s last fiscal year, according to data released on Monday.
The audit rate for those high earners fell to 6.66% for fiscal year 2018, less than half of the 14.52% rate the year before, according to the IRS data. The government’s fiscal year runs from Oct. 1 through Sept. 30.