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The Internal Revenue Service is increasing its number of taxpayer audits, thanks to an $80 billion infusion from the Inflation Reduction Act, signed into law in Aug. 2022. The IRS states that it's goal is to increase the number of audits by 50% from 2019 numbers, but not everyone will feel a closer eye on them. The audits will focus on business owners and wealthy individuals who have previously distorted information to avoid high taxes. D2 shares their audit experiences, and takes calls from listeners.
By Debbie Dujanovic and Dave Noriega4.1
4040 ratings
The Internal Revenue Service is increasing its number of taxpayer audits, thanks to an $80 billion infusion from the Inflation Reduction Act, signed into law in Aug. 2022. The IRS states that it's goal is to increase the number of audits by 50% from 2019 numbers, but not everyone will feel a closer eye on them. The audits will focus on business owners and wealthy individuals who have previously distorted information to avoid high taxes. D2 shares their audit experiences, and takes calls from listeners.