PRIORITIES….Here’s the latest on our kinder, gentler Internal Revenue Service:
The IRS’s scrutiny of the biggest U.S. companies is running at a 20-year low, according to the study, conducted by Transactional Records Access Clearinghouse, or TRAC, a research group affiliated with Syracuse University.
The study, made public Sunday, points to “a historic collapse in audits.” It found that major corporations — defined as those with assets of at least $250 million — have about a one in four chance of being audited, down from about three in four in 1990.
Seems reasonable to me. After all, corporations are so much more honest these days than they used to be. Why waste taxpayer dollars snooping around their books, when those dollars can instead be spent making sure that poor people don’t abuse the Earned Income Tax Credit?