The IRS is planning to ramp up audit rates of wealthy Americans and large corporations as part of its sweeping effort to crack down on tax cheats. The tax-collecting agency aims to increase the audit rates of taxpayers earning over $10 million by more than 50%. That will bring the audit rate for these individuals to 16.5% in 2026, compared with 10% in 2019. It also plans to nearly triple audit rates on large corporations with assets over $250 million, as well as increase the audit rates of... Read this story
