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Coming to an Orwellian state near you:Reuven S. Avi-Yonah (Michigan) & Oz Halabi (LL.M. (International Tax) 2011, Michigan) have posted Real Time Audit – It is the Time to Act? on SSRN. Here is the abtcarst: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 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 . . . Got Cash?[In point of fact, many large businesses have "examiners in residence", meaning that the IRS literally sits in the building and monitors the goings-on. The implication is that this would be different, more of on-going information reporting. Think of Mastercard and Visa and ADP as information-collection services for the IRS.]