Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: lurqer who wrote (42397)	4/12/2004 2:34:45 PM
From: lurqer	Read Replies (1) \| Respond to of 89467

As just shown on CNBC, despite the Admin's rhetoric, it's hands off for Corporate tax payers. IRS Audits of Corporations Decline WASHINGTON - Internal Revenue Service audits of corporations continue to drop despite a recent turnaround in enforcement against individual taxpayers, said according to a report by Transactional Records Access Clearinghouse, a government watchdog group, Monday's Wall Street Journal reported. In 2003, the IRS conducted face-to-face audits of only 29% of the largest corporations -- those with assets of more than $250 million -- compared with 34.7% in 1999. Overall, face-to-face audits of all corporations declined to 7% in 2003 from 15% in 1999. The IRS enforcement budget has declined in recent years, squeezing the agency's efforts. "You've got hard choices to make, and corporations were not the top priority in making those hard choices" for the IRS, said Susan Long, a Syracuse University professor and co-director of TRAC, a research organization with offices in Washington and Syracuse that is associated with the university. The study adds to recent evidence that many corporate taxpayers are benefiting from the lax federal tax environment. Last week, the General Accounting Office, the investigative arm of Congress, reported that on average more than 60% of U.S. corporations -- and more than 35% of large corporations -- paid no federal corporate income tax in 1996 to 2000. Much of that avoidance is legal, thanks to deductions and credits provided by Congress. But some of it is due to improper tax shelters and other dodges, investigators believe. money.cnn.com lurqer