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U.S. IRS Audited Record Millionaires in Fiscal '11By Steven SloanBloomberg Jan. 06, 2012 |
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 The U.S. Internal Revenue Service said it audited 12.48 percent of individual tax returns (USCBTAXR) with income exceeding $1 million during fiscal 2011, a high reached at a time of debate over the taxation of top earners. The announcement marks the third consecutive year that the IRS increased its audit rate on returns showing income of more than $1 million. According to IRS data, the previous record was the 8.36 percent of returns in that category audited during fiscal 2010. “We’ve always tried to make sure there was equity in the system,” Steven Miller, deputy IRS commissioner for services and enforcement, said in a telephone interview today. Read More 
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