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TRAC: Few Millionaires Audited by IRS Global High Wealth Group

Transactional Records Access Clearinghouse: “Very timely IRS show that a special government effort claiming to target “global high wealth” individuals — including those with assets or incomes in the tens of millions of dollars — completed audits on only 36 reporting income of $1 million or more in the nearly two and a half years since the program was announced. And while the program has found over $47 million in additional taxes, in one third of these audits the IRS made no changes. Many more details are included in the full report.”

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