Lawmakers: IRS coming down too hard on small businesses

04/3/2009 | WebCPA

U.S. Rep. Nydia Velázquez, D-N.Y., chairwoman of the House Small Business Committee, is concerned about the Internal Revenue Service's move to increase audits for entrepreneurs while cutting back on audits of larger businesses. A recent study found that in 2007, small businesses were 41% more likely to be audited than in 2005, while companies with $250 million in assets or more were audited 40% less often.

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