IRS Urged to Shift Tax Audit Focus to Wealthier Americans

With tax season around the corner, the IRS is re-examining its auditing practices of Americans who make between $200,000 and $400,000 annually. Instead of seeing this group as high-income, the IRS may shift its focus to tax filers with multi-million dollar incomes. The potential shift is in response to a recent report from the inspector general, which revealed that the IRS would get more bang for its buck by allocating tax audit resources to wealthier tax filers. The report found that in 2014, … [Read more...]