The IRS said in a news release Thursday that it’s aiming to nearly triple its audit rate, to 22.6%, on corporations with upwards of $250 million worth of assets in the 2026 tax year.
"An IRS audit is an examination or review of your information and accounts to ensure you're reporting things correctly, following the tax laws, and that your reported tax amount is correct. In other ...
The IRS says it is about to ramp up audits as it cracks down on tax cheats and seeks to deliver more revenue into the U.S. Treasury's coffers. But not every group of taxpayers will face more ...
The number of Internal Revenue Service audits is set to spike in the coming years as the tax agency takes aim at specific groups. In a statement, the IRS said it is planning more audit focus on ...
In 2022, the Internal Revenue Service (IRS) set a target of increasing its revenue by $100 billion over the next decade. The plan is to achieve this by increasing the level of audits to ensure ...
The Internal Revenue Service (IRS) is struggling to hire a workforce commensurate with the super-sized budget expansion that ...
The Internal Revenue Service announced that several groups of taxpayers will be more likely to face audits in the coming years. The increased audits do not come as a surprise after Congress passed the ...
The Internal Revenue Service is turning to artificial intelligence to help select tax returns to audit in an effort to narrow the tax gap, but it needs to use this new technology consistently and ...