Audit

The service is gearing up for a potentially massive tax-enforcement push if Congress passes a plan including $40 billion to expand audits on the wealthy.

The focus is supposed to be on the wealthy and corporations, since they're the ones who account for the majority of tax misconduct, but what does that mean exactly?

Having a regulator appoint an auditor would deal with the conflicts once and for all, writes Chris Hughes.

Some former IRS officials say it will take several years to produce significant results.

If passed, the package would end the step-up in basis provision, which will mean significantly larger tax bills for wealthy estates.

Employees who move to low-tax states may still be taxed by their former residence, as more states levy taxes on cross-border business.

Fewer than two out of every 100 taxpayers reporting over $1 million in income were audited by the Internal Revenue Service in fiscal year 2020, according to a new report.

The agency recently estimated a gap of $381 billion in unpaid tax from 2011-‘13, which equates to roughly 14.2% never being submitted.

Moving to a lower-tax state is more attractive than ever with the $10,000 cap on state tax deductions.

Technology, declining budgets and other factors are radically changing how and which tax returns get looked at.