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Commissioner Rettig is promising not to use the nearly $80 billion his agency will be receiving to increase audits of small businesses or taxpayers who earn less than $400,000.
August 17 -
The service is taking steps to increase its audit rates of higher-income taxpayers after coming under sharp criticism in Congress over its lagging audit numbers.
June 1 -
Advisors tend to avoid clients' tax issues when they involve the IRS. It's a missed opportunity to add value.
April 26 -
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.
June 28 -
Employees who move to low-tax states may still be taxed by their former residence, as more states levy taxes on cross-border business.
April 7 -
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.
March 19 -
Moving to a lower-tax state is more attractive than ever with the $10,000 cap on state tax deductions.
November 26PKF O'Connor Davies -
Technology, declining budgets and other factors are radically changing how and which tax returns get looked at.
November 22 -
The agency processed more of every major type of form during FY 2018 than during the prior year, with the exception of estate tax returns.
May 22 -
They’re rare, but terrifying. Bear these points in mind when you or your clients face a tax exam.
April 9