Skip to main content
  • Home
  • About
  • Faculty Experts
  • For The Media
  • ’Cuse Conversations Podcast
  • Topics
    • Alumni
    • Events
    • Faculty
    • Students
    • All Topics
  • Contact
  • Submit
Media, Law & Policy
  • 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
  • ’Cuse Conversations Podcast
  • Topics
    • Alumni
    • Events
    • Faculty
    • Students
    • All Topics
  • Contact
  • Submit
Media, Law & Policy

TRAC report shows IRS audits of nation’s largest corporations have decreased

Monday, April 12, 2010, By News Staff
Share
Research and CreativeTransactional Records Access Clearinghouse

A new Transactional Records Access Clearinghouse (TRAC) report, based on data extracted from the Internal Revenue Service under the Freedom of Information Act, shows that in the face of growing federal deficits, the agency’s audits of the nation’s largest corporations have sharply dropped in the last few years.

TRAC is a data gathering, data research and data distribution organization at Syracuse University. The purpose of TRAC is to provide the American people—and institutions of oversight such as Congress, news organizations, public interest groups, businesses, scholars and lawyers—with comprehensive information about staffing, spending and enforcement activities of the federal government. 

The report notes that the decline in audits of large corporations is surprising because 1) the highest levels of misreported tax dollars per auditor hour are found among the biggest business organizations and 2) since fiscal year (FY) 2005, Congress has provided the IRS with the funds it needs to hire an increasing number of revenue agents trained to handle these very complex returns.

One key TRAC finding is that for corporations with assets of $250 million or more, the IRS in the last five years has cut back on the number of audit hours by 33 percent. In FY 2005, the returns of 43 out of 100 of these large businesses were audited. In FY 2009, the audit rate had dropped to 25 out of 100. A key outcome is that more and more of the largest corporations are not being audited at all.

The full report is available at http://trac.syr.edu/tracirs/newfindings/current.

  • Author

News Staff

  • Recent
  • Syracuse University Press Participating in Path to Open Program
    Friday, September 29, 2023, By Cristina Hatem
  • A&S Chemistry Professor Receives Award From the American Chemical Society
    Friday, September 29, 2023, By News Staff
  • ‘Guys and Dolls’ opens Syracuse University Department of Drama 2023/24 Season
    Friday, September 29, 2023, By Joanna Penalva
  • Libraries Add MindSpa Wellness Rooms
    Friday, September 29, 2023, By Cristina Hatem
  • Syracuse University Announces the Opening of the Center for Gravitational Wave Astronomy and Astrophysics
    Friday, September 29, 2023, By Kerrie Marshall

More In Media, Law & Policy

Maxwell Sociologists Receive $1.8M From the NIA to Study Midlife Health and Mortality

A team of Maxwell School faculty led by Jennifer Karas Montez and Shannon Monnat have been awarded a $1.8 million grant from the National Institute on Aging (NIA) to support their research on geographic disparities in midlife mortality. Montez, University…

Languages Unlock Opportunities for English for Lawyers Alumna

Languages act as a guide for communicating our goals and dreams. It’s how we make sense of the world and connect with the communities around us. Become fluent in a variety of languages, and it’s like collecting keys that unlock…

Law Student Tyriese Robinson Named Inaugural Recipient of the NDNY FCBA Hon. Norman A. Mordue ’66, L’71 Law Scholarship

The first recipient of a scholarship established in honor of the Hon. Norman A. Mordue ’66, L’71 is second-year law student Tyriese Robinson. The Northern District of New York (NDNY) Federal Court Bar Association (FCBA) Hon. Norman A. Mordue ’66,…

Robertson Fellows Aspire to Serve as Foreign Service Officers

Interested in careers in the foreign service, Zoe Prin and Forrest Gatrell took advantage of internships and other opportunities as undergraduates that exposed them to the inner workings of government, policymaking and service from differing vantage points. While Gatrell obtained…

Craig M. Boise to Conclude Tenure as College of Law Dean at End of Academic Year

When Craig M. Boise stepped into his role as dean of the College of Law in the spring of 2016, he described his vision to create “a sustainable law school that leverages the knowledge, skill and imagination of its faculty…

Subscribe to SU Today

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

Connect With Us

  • X
  • 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
© 2023 Syracuse University News. All Rights Reserved.