IRS Budget Cuts Blamed For Costly Audits Of Small Biz

By Vidya Kauri (September 15, 2016, 8:27 PM EDT) -- An inadequate budget and low staffing levels at the Internal Revenue Service are seen as the root causes of prolonged audits that have cost small businesses exorbitant amounts, according to experts who testified before the House Small Business Committee on Wednesday.

The experts, who included a former IRS official, lawyer, accountant and professor, outlined numerous problems including a lack of transparency and unnecessary extended delays that occur during the agency's audits of small businesses. The committee was convened to follow up on complaints that Chairman Steve Chabot, R-Ohio, described as burdensome actions on small businesses, poor communications from the IRS and...

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