Reported about 1 year ago
The IRS is intensifying enforcement efforts following the Inflation Reduction Act, which allocated billions in funding over a decade to target rich households and corporations for unpaid taxes. Auditors have been granted more resources to scrutinize high-net-worth families and are delving deeper into tax audits with an expanded staff and assertive tactics. The IRS aims to increase audit rates on high-income earners, sparking debates on tax fairness and enforcement practices while addressing concerns over potential overreach and fairness in tax audits.
Source: YAHOO