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Real Time Audit – It is the Time to Act?

5 Pages Posted: 2 Jul 2011 Last revised: 13 Jul 2011

Reuven S. Avi-Yonah

University of Michigan Law School

Oz Halabi

University of Michigan Law School

Date Written: June 28, 2011

Abstract

The U.S. is facing one of its hardest economic crises. Its economy has not recovered from the 2008 downturn, and the light at the end of the tunnel is far, far away. The government and the Internal Revenue Service (“IRS”) are seeking revenue sources in order to reduce its budget deficit. However, raising the income tax rates is politically difficult and may lead to further loss of jobs. In this political situation, it is important to try to find ways to raise more revenue without raising tax rates. One possibility of doing so is “real time audit”: Auditing transactions when they occur, rather than months or years later.

Keywords: tax administration, audit

JEL Classification: H25

Suggested Citation

Avi-Yonah, Reuven S. and Halabi, Oz, Real Time Audit – It is the Time to Act? (June 28, 2011). U of Michigan Law & Econ, Empirical Legal Studies Center Paper No. 11-010; U of Michigan Public Law Working Paper No. 242. Available at SSRN: https://ssrn.com/abstract=1875881 or http://dx.doi.org/10.2139/ssrn.1875881

Reuven S. Avi-Yonah (Contact Author)

University of Michigan Law School ( email )

625 South State Street
Ann Arbor, MI 48109-1215
United States
734-647-4033 (Phone)

Oz Halabi

University of Michigan Law School ( email )

Ann Arbor, MI
United States

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