Audit

Businesses are likely to see more sales tax audits in 2024 as a result of changes happening across the states, according to a new report.

The service reported on its increased enforcement efforts on Friday, including collecting over half a billion dollars from millionaires who didn't pay their taxes.

The new positions, which will be in more than 250 locations, will help ramp up compliance efforts against high-income earners, partnerships, large corporations, and promoters.

The service will need to tread carefully with how it uses artificial intelligence amid growing questions about the reliability of the technology.

The IRS's $80 billion in new funding means more scrutiny of higher earners.

Many advisors have clients who took out the forgivable loans. Some wealth management firms did the same. Three years after the government doled out more than $800 billion in mostly-free cash, here's what's happening.

Avoiding common mistakes when filing returns for wealthy clients and exploring Roth IRA conversions are among the key considerations for advisors and accountants this tax season.

Affluent investors typically have more complicated financial lives and more ways to get things wrong when filing federal tax returns in 2023.

IRS algorithms in determining tax returns to audit, enforcement policy and resource constraints result in significant racial disparity in returns chosen for a tax audit.

The Internal Revenue Service audited fewer taxpayers last year, according to a new report, although audits of millionaires ticked up slightly.