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The IRS says audits are about to surge — here’s who’s most at risk

Posted on AllSides May 3rd, 2024
From The Right

The Internal Revenue Service said it plans to sharply increase audit rates for big corporations, partnerships and multimillionaires over the next three years after a massive boost in funding by the Biden administration.

The IRS said in a news release Thursday that it’s aiming to nearly triple its audit rate, to 22.6%, on corporations with upwards of $250 million worth of assets in the 2026 tax year.

The figure marks a steep rise from the 8.8% that were audited in 2019.

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