IRS Warns Low- to Middle-Income Taxpayers Could Make Up Bulk of Tax Audits

Published on May 3, 2024

A failure to properly fund the Internal Revenue Service (IRS) could result in lower and middle-income taxpayers facing a higher share of tax audits, warned the agency in a recent report. On May 2, the IRS released an update of its Strategic Operating Plan which outlines the dozens of improvements the agency made for taxpayers with the $80 billion funding secured from the Inflation Reduction Act (IRA). According to the report, the IRS is using the funding to boost enforcement personnel like accountants, engineers, economists, data scientists, attorneys, and tax experts with specialized skills. The new staff is expected to allow the IRS to “double audit rates on the wealthiest taxpayers, reversing the sharp decline in audit rates over the 2010s.”...

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