IRS Commissioner Charles Rettig wants more funding to help stop tax evasion. The IRS would like to increase audits of high-income individuals and corporate tax returns. “These cases are not easy to resolve,” Rettig stated. “The average investigation of a high-wealth individual takes two years to complete and often requires the IRS to commit substantial resources.” The IRS would also like more information about taxpayers from third parties (similar to the way it receives data about interest and other income). He added: “High-income taxpayers disproportionately accrue income in opaque sources, like partnership and proprietorship income, where the IRS struggles to verify tax filings.” Call or visit our website for more information! www.mjscpa.com/
