Updated Wednesday, July 23, 2014 as of 7:43 AM ET

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IRS Steps Up Enforcement of High-Income Taxpayers

Michael Cohn

The Internal Revenue Service reported that audits of individuals topped 1 million in fiscal year 2012 for the sixth year in a row, a coverage rate of 1.03 percent of all tax returns filed, while audits in the upper income ranges remained substantially higher than other categories.

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