CBS news is reporting that the IRS is planning to ramp up audits as it cracks down on tax cheats and seeks to deliver more revenue into the U.S. Treasury. This comes on the heels of $80 billion in new funding from the so-called Inflation Reduction Act (IRA), signed into law by President Joe Biden in 2022. The report says the IRS’ plan over the next three tax years includes a sharp increase in audits, but they say they won’t boost enforcement for people who earn less than $400k annually. Stay tuned….
“The changes outlined in this report are a stark contrast to the years of underfunding” that led to a deterioration in the agency’s services. Said IRS commissioner Danny Werfel on a conference call with reporters.
Click here to read the full story at CBSnews.com.
