IRS will do fewer tax audits this year

Related: 10 audit red flags

The commissioner’s big concern: fewer audits will mean the agency will collect less of the money owed. He estimated that the IRS has been unable to collect $6 billion to $8 billion since 2010 because its enforcement division is operating with 5,000 fewer employees than it needs. He anticipates that another $2 billion will go uncollected this year as result of staff reductions.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

CNN Money