IRS Tells Taxpayers to Claim Income from Illegal Activities?
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IRS Unveils Plan to Crack Down on Wealthy Taxpayers
Michael RaineyMay 2, 2024The IRS wants to increase its audit rate for taxpayers earning more than $10 million by about 50%, according to an
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IRS plans to more than double its audit rate of wealthy taxpayers
The IRS is planning to ramp up audit rates of wealthy Americans and large corporations as part of its sweeping effort to crack down on tax cheats. The tax-collecting agency aims to increase the audit rates of taxpayers earning over $10 million by more than 50%. That will bring the audit rate for these individuals to 16.5% in 2026, compared with 10% in 2019. It also plans to nearly triple audit rates on large corporations with assets over $250 million, as well as increase the audit rates of...
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IRS to Increase Audit Rates of Wealthy Taxpayers by 50 Percent
The Internal Revenue Service (IRS) has said it will increase its audit rates of wealthy taxpayers and large corporations by 50 percent.