Michael Mares presents this week’s update:

• The IRS released their annuals statistics for the year ended September 30, 2007. Highlights from 2007 include:
• Increased revenue of $10 billion
• Individual audits increased by 7% for taxpayers with income over $1 million
• Increased audits by 13.7% for taxpayers with incomes greater than $100,000
• S Corp audits increased by 26%
• Partnerships were up by 25%
• 57% of individuals filed electronically in 2007 which is up from 54% in 2006, however this is still a long way off the goal set by Congress of 80% by 2007