Internal Renue Sevice

Few audits of big business partnerships by the IRS

Few audits of big business partnerships by the IRS

The Internal Revenue Service audits fewer than 1 percent of large business partnerships, according to a government report released Tuesday. That means some of Wall Street’s largest hedge funds and private equity firms are largely escaping close scrutiny by the IRS, said Sen. Carl Levin, D-Mich. The Government Accountability Office says the number of large […]