Audits of business returns about the same
Recent IRS statistics show the audit rate for Schedule C filers with gross receipts of $200,000 or more in 2009 was 3.2%, compared with 3.1% in 2008. For Schedule C filers with gross receipts between $100,000 and $200,000, the rate for 2009 was 4.2%, compared with 3.8% in 2008. The audit rate for partnerships and S corporations was unchanged at 0.4%. If you know of an excellent service or product that benefits small business, let me know -- it just might make a great Idea of the Day.®
|