In related news

  • 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...

  • 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.

  • IRS plans to increase audit rates of wealthy taxpayers by 50%

    The Internal Revenue Service detailed its plans Thursday to significantly ramp up audit rates of wealthy taxpayers and large corporations, using funds provided by the Democrat-backed Inflation Reduction Act that passed in 2022. The audit rate of taxpayers earning more than $10 million is expected to increase by 50%, going up from 11% in 2019 to 16.5% in 2026. The IRS also plans to triple the audit rates of large corporations with assets over $250 million, as well as increase the audit rates of...