Tax Audits Decrease as IRS Takes Longer to Scrutinize Wealthy

Tax audit rates at all income levels have declined in the past decade as the time it takes IRS agents to complete audits of top-earners has more than doubled, according to a new watchdog report.

The IRS has scaled back audits of all taxpayers between 2010 and 2019, with the total audit rate falling to 0.25% from 0.9%. The largest drop has been among those reporting $5 million or more, who have a 2.35% chance of being audited down from more than 16% a decade ago, according to an analysis from the Government Accountability Office released Tuesday.

The drop ...