IRS data: 15% of large financial services companies were audited in 2008

Just in from the Transactional Records Access Clearinghouse:

“Newly released data from the IRS show that only 15% of large financial services companies — those with $250 million or more in assets — were audited in 2008, compared with 64% of all other similar sized corporations. And when they were performed, these financial service audits appear to have been less thorough than those in other industries. In addition, fewer of these audits were being performed by the IRS agency group with special expertise in large financial service corporations, while the number performed by other IRS groups more than doubled since 2004.”

“These latest findings on the IRS, based on documents and data obtained by TRAC under the Freedom of Information Act, are available at

TRACking federal prosecutions

The good folks at TRAC (Transactional Records Access Clearinghouse), providers of a popular online database here, just sent out this e-mail:

TRAC has just added a unique new feature for displaying all the U.S. statutes cited by federal prosecutors as the primary charge in their prosecutions and convictions. For every law, there are case counts and the full text of the relevant statute . . . In addition, for those laws with a sufficient number of matters, there are links to exclusive TRAC reports on the prosecutions and convictions under the selected statute, as well as a link to a U.S. map showing the geographic distribution of convictions across the country.



For more information:

David Burnham and Susan B. Long, co-directors
Transactional Records Access Clearinghouse
Syracuse University
Suite 360, Newhouse II
Syracuse, NY  13244-2100