KKTV - Economy - Headlines

IRS Collections From Audits Fall In 2008

By: Associated Press
By: Associated Press


The IRS says its collections from audits and other reviews fell this year for the first time in a decade as the agency focused more of its limited resources on ensuring that people got their economic stimulus checks.

Overall, collections dropped about 4.7 percent -- to $56.4 billion for the fiscal year that just ended.

The drop occurred after what had been a record-setting year in 2007, which agency officials describe as an anomaly. In addition to its regular duties, the agency issued 117 million payments worth more than $95 billion as part of the federal economic stimulus program this spring, and it did so with about 2 percent fewer officers and agents conducting audits and other reviews.

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