Who Form 1120 C Audit 2023-2024

Hello Anthony, hello Claudine. We're talking today about C-Corp audits, and this is one big, huge area of tax controversy law. Yes, and we're going to give some situations that would tend to invite scrutiny from the IRS. But, you know, first, I wanted to look and see what are the chances of being audited so I did sort of... I couldn't find a ton of stats, but the ones I found are this. So, if you're a small C Corp with total assets of less than 1 million dollars, in 2010 there was a 1.4 percent audit rate. In 2014, that dropped to 1 percent. Okay, for 1 to 5 million dollars in assets, your audit rate in 2010 was 1.7 percent, and in 2014, it was 1.2 percent. Now, we start to get a little bit higher here. For 5 to 10 million dollars in assets, the audit rate in 2010 was 3 percent, and in 2014, it was 1.9 percent. And then we hit the big boys. Yep, for 10 to 50 million dollars in assets, your audit rate in 2010 was 16.6 percent, and in 2014, it was 6.2 percent. Now, we know that the IRS is not as heavily manned as they were in 2010, but that 10 to 50 million dollars looks like they're getting hit. They're getting hit, and we know that the IRS is looking. They've gotten marching orders from Congress, enough with trying to make everybody comply and check on everyone. What we're looking for is the money, so they've been going to the targets where they're pretty sure they can generate money. C Corps, there's a lot of things going on there - lots of ability, lots of ways to assess additional taxes, and a better way to collect, and...