© Susan Tompor / USA TODAY NETWORK
(Washington. D.C. ) — The IRS says it plans to increase the number of audits on wealthy Americans and large corporations. The agency has nearly 80-billion-dollars in new funding from the 2022 Inflation Reduction Act. Some of that money will be used to crank up the number of audits on corporations with assets of more than 250-million-dollars as well as people with income of more than 10-million-dollars. The agency says there will be no increase in audits for people earning less than 400-thousand-dollars a year.
IRS commissioner Danny Werfel says the agency will also use the money from the Inflation Reduction Act to bolster it’s customer service operations and to hire new workers. He says the IRS lost a large number of employee due to the pandemic and retirements.
