IRS Increases Estate Tax Audits

During 2012, the Internal Revenue Service (IRS) Audited Estate tax returns in greater volumes than any other category of individual tax returns.

• The 2012 Internal Revenue Service Data Book showed that 29.9% of the 12,582 estate tax returns that were filed in 2011 were audited by the IRS.  

• The figure was a major rise from the 2010 per cent audit rate of 18.2%.

• Estates with assets worth between USD5 million and USD10 million had a 58% audit rate.  

 Are You the Personal Representative of an Estate

Which Is Being Audited by the IRS?

 

Contact the Tax Lawyers at Marini & Associates, P.A.

 

 

for a FREE Tax Consultation at:
www.TaxAid.us or www.TaxLaw.ms or
Toll Free at 888-8TaxAid (888) 882-9243

Source:

IRS (via STEP)

Accounting Web (via STEP)