We explain who is likely to be audited by the IRS and what you can do to minimize your chances with tax software and other methods. I write about money. I’ve been reviewing tax software and services ...
A study of 2022 IRS tax audit data found that a taxpayer in the lowest income bracket is five times more likely to face an audit that would a member of the highest income bracket. "The IRS ...
Retired IRS economist Kim Bloomquist discusses his findings of geographic — and perhaps race and class — bias in the tax agency’s selection of audits. This post has been edited for length and clarity.
The IRS said Friday it is ramping up a crackdown on wealthy taxpayers who owe back taxes, noting that the effort springs from billions in new funding through the Inflation Reduction Act partially ...
There is a lot of chatter about the $80 billion of increased funding for the IRS in the Inflation Reduction Act, which President Biden signed into law on Tuesday. The burning question on everyone’s ...