IRS aims to more than double its audit rate on wealthiest taxpayers [Video]

The IRS has released an update on its strategic operating plan, which outlines “major accomplishments” in taxpayer service, technology and enforcement since its infusion of funding less than two years ago.

Emphasizing key focus areas, the agency on Thursday highlighted the need for sustained funding, including a $104 billion proposal to extend Inflation Reduction Act funding through fiscal 2034.

The agency also renewed its focus on “tax fairness” with plans to increase audits on the wealthiest taxpayers, large corporations and complex partnerships.

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“This update also reflects our ongoing effort to make sure we focus compliance resources where they need to be,” IRS Commissioner Danny Werfel told reporters on a press call.

The IRS aims to more than double …