In a statement, the IRS announced that it has launched a comprehensive effort to restore fairness in tax compliance by paying more attention to high-income earners and large corporations that abuse the nation’s tax laws.
In the statement, it was noted that this effort will be carried out with the help of advanced technology as well as artificial intelligence to enable IRS teams to better detect tax evasion and identify emerging threats and prevent taxpayers from being burdened with unnecessary audits.
As part of this effort, it was stated that the IRS will ensure that audit rates do not increase for those earning less than $400 thousand per year.
In the statement, it was stated that within the scope of prioritizing high-income earners in taxes, the IRS will intensify its work on taxpayers whose net income is over 1 million dollars and who owe more than 250 thousand dollars in tax.
It was stated that the IRS will have dozens of revenue officers focused on these top collection cases in fiscal 2024, and the agency will work to expand this effort by contacting approximately 1600 taxpayers who have hundreds of millions of tax debts in this category.
The IRS will begin examining 75 of the largest partnerships in the United States, representing a cross-section of industries including hedge funds, real estate investment trusts, publicly traded partnerships, large law firms and other sectors with assets averaging more than $10 billion, the statement said. was recorded.
Compliance efforts will be increased
IRS Commissioner Danny Werfel, whose evaluations were included in the statement, noted that the agency’s new effort fulfills the IRS’s promise to hold the wealthiest taxpayers accountable for paying the full amount they owe.
Pointing out the importance of the institution addressing the fundamental gaps in tax compliance that have increased in the last 10 years, Werfel said, “There is a serious change in the IRS in every aspect of our operations. The IRS uses new resources for the latest technology to focus staff attention on the most abused areas.” he said.
Werfel emphasized that they will increase compliance efforts against those who pose the greatest risk to the country’s tax system, including the wealthy who want to avoid paying their fair share.
