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AT-112119-Buttonow- Extra tax owed on audit.png 8. Audits on the wealthy are still popular, but have dropped In 2011, one out of every eight taxpayers who earned more than $1 million in income were audited. In 2018, the number dropped to one in every 31 taxpayers. However, those who earn more than $1 million are still among the most popular audit profiles. 9. Audits have dropped, but penalties are still prevalent The total volume of individual audits and CP2000 notices has dropped from 4 million in 2005 to 3.9 million in 2018. However, in 2018, 606,121 individual taxpayers were assessed the accuracy penalty for making an error on a tax return (audit or CP2000 notice). In 2005, that number was only 58,366. The moral here is if the IRS has to audit or send a CP2000 notice, it will now look to penalize errors to deter future noncompliance. The number of individual taxpayers with an accuracy penalty from an audit/CP2000 notice has increased 10 times since 2005. Finally, the “fear of an audit” myth buster. The IRS does not like to publish this statistic. In 2018, there were only 636 indictments of legal source tax crimes. IRS tax evasion criminal investigation cases have dropped by 58 percent since 2013. The main source of IRS legal source tax crime cases are IRS field auditors and criminal investigators, i.e., revenue agents and special agents. From 2013 to 2018, the numbers of revenue agents and special agents have decreased by 26 percent and 21 percent, respectively. As a result, the number of criminal investigations and indictments continue to decline. Realities and the IRS ability to close the tax gap Fear of an audit has always been a main driver for compliance with the IRS. The 2018 Comprehensive Taxpayer Attitude Survey continued to show that 63 percent of taxpayers cited fear of an audit as an influential behavioral factor for correctly filing and timely paying their taxes. The tax gap , as currently measured on 2011-2013 returns, shows that the Treasury loses $352 billion a year due to inaccurate tax returns. With the fear of an audit becoming a myth, how will the IRS close the tax gap?

https://www.accountingtoday.com/list/ten-major-trends-in-irs-tax-audits

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Rolling Blackouts Start, 6,000 without Power; Some Traffic Signals that Rely on Electricity are Dark, Use Caution Traveling NEW-MAC, BARTON COUNTY ELECTRIC, CARTHAGE WAYER AND POWER: Other electric companies who are part of the SPP have released information to customers that rolling blackouts are looming. NOTE: Other electric companies who are part of the SPP (Southern Power Pool) have released information to customers that rolling blackouts are looming. NORTHEAST OKLAHOMA ELECTRIC COOP, click here JOPLIN, Mo. — In a release just after 7:30 AM Liberty Central Utilities announced the rolling blackouts have begun. At 7:40 AM about 6,000 are without power in the Joplin region. “We will interrupt service in blocks throughout our electric system. We will work to keep the duration of these interruptions down to approximately one hour per block. We will do all we can to minimize the impact. Because of the rapidly changing nature of this emergency, we will not be able to alert customers individually regarding required service interruptions. We are asking our customers to prepare in advance. Please know our crews are working around the clock to restore and maintain service during these extreme weather conditions.” Additionally some traffic signals which rely on electricity are dark. Use extreme caution traveling South Rangeline near I-44. No traffic signal or flashing red lights mean 4-way stop. SPP is declaring an Energy Emergency Alert (EEA) Level 3 effective immediately for our entire 14-state balancing authority area. Systemwide generating capacity has dropped below our current load of ~42 GW due to extremely low temperatures and inadequate supplies of natural gas. pic.twitter.com/AfK3A9i9Ps — Southwest Power Pool (@SPPorg) February 16, 2021 Joplin Police have issued Emergency Road Conditions-TFN.

https://www.fourstateshomepage.com/news/joplin-news-first/rolling-blackouts-start-6000-without-power-some-traffic-signals-that-rely-on-electricity-are-dark-use-caution-traveling/