IRS Budget Cuts Cost Taxpayers $15 Billion Annually in Collections from the Largest Corporations

Drop in Audit Time and Recommended Additional Tax — Big Corporations
Drop in Audit Time and Recommended Additional Tax — Big Corporations

Nation’s biggest companies benefit from Congressional budget cuts.

By Rick Telberg
CPA Trendlines

Maybe it’s only legend, but if you’re a quotation buff, you’ve probably heard novelist F. Scott Fitzgerald telling Hemingway, “The rich are different from you and me.” Hemingway responds, “Yes, they have more money.”

The same may apply to giant corporations, at least as far as the IRS is concerned. And the consequences are far from amusing.