President Joe Biden promised that tens of billions of dollars for the IRS in the 2022 Inflation Reduction Act would not be used to increase audits of individuals making $400,000 or less annually. But ...

The Internal Revenue Service said it plans to sharply increase audit rates for big corporations, partnerships and multimillionaires over the next three years after a massive boost in funding by the ...

In 2022, the Inflation Reduction Act allocated $80 billion in funding for the Internal Revenue Service and touched off a firestorm of controversy. Internet rumors swirled, with some saying the money ...

NEW YORK — 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 ...

The IRS has announced a new audit campaign targeted at the use of private aircraft, a/k/a “corporate jets”. This has been an intensifying area of focus by the IRS over the last few years as a result ...

Get ready, taxpayers: The IRS is planning to make good on its promises for a major overhaul. The Inflation Reduction Act Strategic Operating Plan, released April 5, 2023, lays out the details of what ...

One of the reasons that the thought of a tax audit strikes fear into the hearts of many Americans is that the process seems so mysterious. When you send off your tax return every year, there’s no real ...

Millions of Americans have filed their income tax returns already, and tens of millions more will be doing so in the coming weeks. With the heavy lifting done, people can turn their attention to other ...

Filing season can be a stressful time for many Americans. The challenge of having to navigate countless forms and compiling all of the correct information can turn tax season into an overwhelming ...