tax audit

Interest rates for underpayment and overpayment of taxes for the second quarter of 2024 have been announced by the IRS.

The IRS is increasing scrutiny of corporate aircraft use in a bid to ensure personal use of business jets is sufficiently accounted for and taxed.

The IRS chief said his ’marching orders’ to staff are not to raise audits on Americans earning less than $400,000 but hinted there’s a chance it may happen.

IRS hiring 3,700+ tax enforcers to audit higher earners but a watchdog worries about audits for those under $400,000 due to unclear “high-income” definition.