What are the latest audit targets of the IRS? IRS Commissioner Charles Rettig gave some clues in recent written testimony before the Senate Finance Committee. Rettig set out the following audit priorities: 1) Abusive tax shelters, particularly syndicated conservation easements and micro-captive insurance shelters; 2) Virtual currency; 3) Tax compliance among high-income taxpayers (generally those with incomes above $100,000 who failed to file tax returns in 2018 or previous years); and 4) High-income/high-wealth taxpayers as well as certain types of questionable transactions typically engaged in by such taxpayers. Call or visit our website for more information! www.mjscpa.com/
