4/13/2004

At the IRS, corporate audits down - Personal audits up!

Is anybody surprised? I didn't think so.

But new figures just out show that the biggest earners, American corporations, are least likely to be audited or to pay any taxes at all.

With tax preparation services shifting into overtime, figures just out show that individual taxpayers are three times more likely to be audited than American businesses — even though U.S. companies earn nearly four times what all individuals combined do.

And let's not forget other things these all-American companies to to avoid taxes.

The General Accounting Office says 61 percent of U.S. companies avoided tax payments entirely legally. How? By keeping operations overseas, for example, and offering employees stock options — a huge tax write-off.

Yet I have to worry more about being audited. What the fuck, waffle boy?