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Jan 14

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Interesting IRS Facts

shutterstock_26941600As 2013 has come to an end, we all must start gathering our 2013 tax records to start preparing for the dreaded tax man.  Do you ever wonder how many returns or how much money the IRS collects?  Or how many audits are conducted?

In the 2012 IRS Data Book, released by the IRS, contains some interesting facts about tax returns filed in the U.S.  The following statistics come from the IRS released data for fiscal year 2013 (through September 30, 2012):

  • The IRS employed 97,941 employees
  • The IRS collected $2.5 trillion in taxes
  • The IRS processed 237 million tax returns, of which 145 million were filed electronically
  • Almost 81% of individual tax returns were electronically filed
  • The IRS spent $0.48 cents to collect $100 in tax revenue, lowest cost since 2008
  • The audit rate for Form 1040 was 1.03% for the 143 million returns filed
  • The audit rate for Form 706 overall was 29.9%.  For estates between $5 million and $10 million the audit rate was nearly 60%.  For estates above $10 million, the audit rate was 100%.

About the author

Anand Khemlani

I am a founding member of Fulcrum Inquiry, an accounting and economic consulting firm that performs damage analysis for commercial litigation, forensic accountings, financial investigations, and business valuations. I am a Certified Public Accountant (CPA), Accredited in Business Valuation (ABV), a Certified Fraud Examiner (CFE) and am a licensed Real Estate Broker. I regularly serve as an expert witness involving results of my forensic accounting assignments and damage analyses. My resume is available on Fulcrum's website

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