The IRS is loaded with cash and ready to roll and audits are the focus.

Yea, the IRS was supposed to get $80 billion and now they’re not but they still got $60 billion (although it may shrink even more) over 10 years in addition to its annual funding.

It’s still a VERY decent chunk of change, which allows the IRS to make lots of changes to many aspects of its operations but especially its audit department.

The IRS got a whole bunch of money from the so called “Inflation Reduction Act,” to target "the wealthy," but a recent audit by the Treasury Inspector General for Tax Administration (TIGTA) found that IRS audits still unfairly targeted the middle class despite assurances from the IRS that they wouldn’t.

🚨 Accountants Alert: The IRS is gearing up for a major overhaul in tax enforcement, targeting the wealthy and large corporations. By 2026, audits for households with incomes above $10 million will increase by 50%, and corporate audits are expected to almost triple.

If you're an accountant, and you serve high-income taxpayers, this is what you need to know to keep your clients in compliance.