To avoid a government shutdown, the IRS lost out on $20 billion in funding, limiting its ability to track down tax dodgers.

Republican lawmakers have now clawed back half the investment the Biden administration made in the tax agency.

Roughly 8.7% of those who earned $10 million or more were audited in 2019. IRS audit statistics released in May 2022 show that your chances of being audited are slim (less than half of 1%—only 0 ...

Ernst is introducing the Audit the IRS Act on Monday afternoon ... crime,' I would strongly urge you to routinely check the ...

Then, the IRS audits those returns that stand out ... such as the earned income tax credit or the taxpayer’s filing status, and requests that the taxpayer provide documentation to support ...

Your chances of being audited are low. In 2022, the IRS audited only 626,204 out of 164 million returns. That’s an audit rate of less than 0.4%. Since then, the number of audits dropped even more.

The IRS received $80 billion in funding as part of the Inflation Reduction Act of 2022. Expanded enforcement, including more audits, is one way the IRS plans to use the money. Large corporations ...

The Biden administration tried turbocharging the Internal Revenue Service’s tax-collection capabilities with billions in extra funding and bold audit targets aimed at rich taxpayers. Those ...

A significant reason for an IRS audit is the failure to declare all sources of income. Despite attempts to conceal earnings, the IRS has access to various data sources, including banks and ...

WASHINGTON, Dec 18 (Reuters) - Some prominent critics of President-elect Donald Trump - including three officials in his first administration - are instructing their accountants to safeguard ...