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    IRS Audits Less Than 1 Percent Of Big Partnerships

    Wochit Headline News

    by Wochit Headline News

    A new government report says the IRS audits less than 1 percent of large partnerships, drawing criticism from Congress. The Government Accountability Office says the number of large businesses organized as partnerships has more than tripled since 2002, yet hardly any get close scrutiny by the IRS. The GAO defines large partnerships as those with more than 100 partners and more than $100 million in assets.