IRS says audits for rich people and corporations are about to hit a whole new level. Buckle up.
The tax agency announced new goals in an effort to show what it’s doing to maximize the billions of dollars provided by the Inflation Reduction Act.
The IRS says audits are about to surge — here’s who’s most at risk
Republicans have railed against the IRS audits as harassment of Americans over their taxes and have successfully chipped away at the funding. A top-line spending deal is set to cut the funding by $20 billion this year.
IRS says number of audits about to surge. Here's who it is targeting.
The IRS is tapping Inflation Reduction Act funding to hire more agents and go after more tax cheats. Here's where it is focusing.
IRS plans to more than double its audit rate of wealthy taxpayers
Funding for the latest enforcement efforts was included in the Democrats' health care and climate change spending bill that President Biden signed into law in 2022.
IRS acts to address wide disparity in audit rates between Black taxpayers and other filers
The IRS says it's taken steps to address a wide disparity in audit rates between Black taxpayers and others filers
IRS acts to address wide disparity in audit rates between Black taxpayers, other filers
IRS data-driven algorithms selected Black taxpayers for auditing at up to 4.7 times the rate of non-Black taxpayers. The agency says it’s moving to correct the disparity.
IRS to boost audit rates for big firms, millionaires
WASHINGTON >> The Internal Revenue Service said on Thursday that it plans to sharply increase audit rates for big corporations, partnerships and multimillionaires over the next three years as it ramps up enforcement spending and hiring to boost collections.
IRS says it will boost audits on wealthy, address racial disparities
The agency says it will increase audits on people who earn more than $10 million from 11% to 16.5% by 2026. As for businesses, the IRS will triple audit rates for those with assets over $250 million.
IRS Announces Audits Surge Coming
In a bold move to enhance fairness in tax collection, the IRS is gearing up to significantly increase its audit activities, targeting the financial heavyweights of society—wealthy individuals and larg
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IRS to increase audits for 2 specific groups and reduce for others
The Internal Revenue Service (IRS) intends to conduct more audits for Americans earing $400,000 or more and major ...
North Carolina HBCU faces battle with IRS, risks being shut down
Saint Augustine's University in Raleigh, North Carolina, is in an ongoing battle with the IRS and the Southern Association of ...
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Practitioner service improvements part of IRS strategic operating plan
Although the IRS says it has made great strides in customer service to taxpayers over the past year, "We have a lot more work to do," Commissioner Danny Werfel said Thursday. That work includes ...
Sports Team Owners Face New Scrutiny From IRS Over Tax Avoidance
The IRS has launched a campaign to examine whether wealthy taxpayers are violating the law when using their ownership of ...
Court Unanimously Overturns Farhy, Finding IRS Has Authority To Assess Penalties
Farhy challenged whether the IRS had the legal authority to assess section 6038 penalties. The Tax Court said no, but on appeal, the D.C. Circuit disagreed.
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IRS asks for more money, looks to hire 14,000 more employees
The IRS commissioner said that the $104 billion that Biden is requesting for the next decade would bring an additional $341 ...