Skip to main content
  • Home
  • About
  • Faculty Experts
  • For The Media
  • Videos
  • Topics
    • Alumni
    • Events
    • Faculty
    • Library
    • Research
    • Students
    • All Topics
  • Contact
  • Submit
  • All News
  • Arts & Culture
  • Business & Economy
  • Campus & Community
  • Health & Society
  • Media, Law & Policy
  • STEM
  • Veterans
  • |
  • Alumni
  • The Peel
  • Athletics
Sections
  • All News
  • Arts & Culture
  • Business & Economy
  • Campus & Community
  • Health & Society
  • Media, Law & Policy
  • STEM
  • Veterans
  • |
  • Alumni
  • The Peel
  • Athletics
  • Home
  • About
  • Faculty Experts
  • For The Media
  • Videos
  • Topics
    • Alumni
    • Events
    • Faculty
    • Library
    • Research
    • Students
    • All Topics
  • Contact
  • Submit

IRS issues fewer agency audits aimed at large corporations, according to new TRAC report

Wednesday, April 13, 2005, By News Staff
Share

IRS issues fewer agency audits aimed at large corporations, according to new TRAC reportApril 13, 2005Jaime Winne Alvarez jlwinne@syr.edu

New IRS data show fewer agency audits aimed at large corporations providing investment advice, banking and credit services and insurance, compared tocorporations in other businesses. The disparities, documented in previously undisclosed data obtained and analyzed by the Transactional Records Access Clearinghouse (TRAC) at SU, concern corporations with $250 million or more in assets.

The data were part of TRAC’s 10th annual report on the IRS. TRAC was established in 1989 to provide the American people, oversight institutions, news organizations and others with comprehensive information about the activities of the federal government and the communities in which these activities take place.

At one extreme are the large corporations providing financial services. Less than one in five were audited in FY 2002, 2003 and 2004. At the other extreme are the large corporations involved in agriculture, mining and construction, or heavy manufacturing and transportation. There, 100 percent were audited during the same time period.

Considered as a whole, the corporations with $250 million or more in assets are a major force in the economy, controlling 90 percent of all corporate assets and 87 percent of all corporate income. Despite their dominant role, the new IRS data document that on an overall basis only about one in three were audited.

Other data show that despite recent IRS claims that it is vigorously enforcing tax laws, the audit rate for all corporations has continued to decline along with face-to-face audits of wealthy taxpayers.

To view TRAC’s IRS Report, visit http://trac.syr.edu/tracirs/index.html. TRAC obtains much of its data through use of the Freedom of Information Act. Its data and findings are made available through its public Web site. For more information, contact TRAC co-directors David Burnham and Susan Long at (315) 443-3563.

  • Author

News Staff

  • Recent
  • Eight New Recruits Begin Campus Peace Officer Academy
    Thursday, May 19, 2022, By Christine Weber
  • Media Tip Sheet: Consequences of China Lockdown
    Thursday, May 19, 2022, By Vanessa Marquette
  • Dean Rajiv ‘Raj’ Dewan to Step Down as Dean of the School of Information Studies
    Thursday, May 19, 2022, By News Staff
  • 2022 Graduates Reflect on Service as Academic Coaches
    Thursday, May 19, 2022, By Ellen de Graffenreid
  • Funding Expands for Newhouse Professors’ Work on Technology to Combat Fake News
    Wednesday, May 18, 2022, By Wendy S. Loughlin

More In Uncategorized

Syracuse Views Spring 2022

We want to know how you experience Syracuse University. Take a photo and share it with us. We select photos from a variety of sources. Submit photos of your University experience using #SyracuseU on social media, fill out a submission…

“Can Supermarket Design Really Impact What You Buy?”

Shelley Kohan, adjunct faculty member in the Whitman School, was interviewed for the VeryWell Mind story “Can Supermarket Design Really Impact What You Buy?” Kohan, a retail executive with 25 years of experience, explained that many grocery stores are following…

“COVID Truthers Have Found a New ‘Pandemic’ to Freak Out About”

Michael Barkun, professor emeritus of political science in the Maxwell School, was quoted in the Daily Beast story “COVID Truthers Have Found a New ‘Pandemic’ to Freak Out About.” Barkun, who is an expert on extremism and conspiracy theories, explained…

“With Elon Musk’s Twitter bid, there’s more at stake than freedom of speech: ‘It gives him a lot more influence over government'”

JM Grygiel, associate professor of communications in the Newhouse School, was quoted in the MarketWatch article “With Elon Musk’s Twitter bid, there’s more at stake than freedom of speech: ‘It gives him a lot more influence over government.’” Grygiel, who…

Koppl writes “Biden Establishes a Ministry of Truth”

Roger Koppl, professor of finance in the Whitman School, co-authored The Wall Street Journal opinion piece “Biden Establishes a Ministry of Truth.” The Department of Homeland Security recently announced the formation of the Disinformation Governance Board. The goal of the…

Subscribe to SU Today

If you need help with your subscription, contact sunews@syr.edu.

Connect With Us

  • Twitter
  • Facebook
  • Instagram
  • Youtube
  • LinkedIn
Social Media Directory

For the Media

Find an Expert Follow @SyracuseUNews
  • Facebook
  • Instagram
  • Youtube
  • LinkedIn
  • @SyracuseU
  • @SyracuseUNews
  • @SUCampus
  • Social Media Directory
  • Accessibility
  • Privacy
  • Campus Status
  • Syracuse.edu
© 2022 Syracuse University News. All Rights Reserved.