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Getting audited on your taxes is a common fear among taxpayers. Fortunately, the IRS only audited 3.8 out of every 1,000 returns, or 0.38%, during the fiscal year 2022, according to a 2023. ....
The IRS wants to step up audits of wealthy tax evaders, leveraging a windfall in revenue from Congress. What does that mean for ordinary Americans? ....
After years of auditing some taxpayers with lower incomes at higher rates, the IRS says it’s making a change. IRS audits raise anxiety for many taxpayers. What can be even more frustrating is when those examinations seem unevenly targeted to taxpayers with lower incomes. That’s been the case with the earned income tax credit (EITC), which has been the subject of recent controversy. (A study released earlier this year found that the IRS audits Black taxpayers at about three to five times higher r ....