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IRS Audits Substantial Number Of Estate Tax Returns
Based upon estate tax returns filed in 1997, the IRS audits 10.22% of all estate tax returns. That is more than 10 times the number of individual returns audited (less than 1%).
The larger the estate tax return, the greater the chance of an audit. For estates valued at $5 million or more, the audit percentage was 39.78%! The IRS audited only 5.3% of the returns for estates valued at under $1 million, and audited 14.61% of the returns for estates valued at $1 million to $5 million.
Likewise, the larger the return the more estate tax paid. For estates of $20 million and more, an average tax of $11,802,139 was paid. For estates valued at $1 million and less, an average tax of $45,810.
Source: Wall Street Journal, February 26, 2001
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