IRS says it plans to hike the audit rates on certain taxpayers Boston 25 News [Video]

The Internal Revenue Service on Thursday said that over the next three years it intends to increase audit rates for big corporations, partnerships and multimillionaires.

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The agency released an update to its strategic operating plan that includes nearly tripling the audit rate on corporations that have assets over $250 million, raising it to 22.6% in the 2026 tax year. The rate was 8.8% in 2019.

For complex partnerships with assets of more than $10 million, the IRS said it intends to increase audit rates by nearly 10-fold, to 1% in tax year 2026 from 0.1% in 2019.

The IRS also said it is targeting a 50% increase in audit rates for individuals with total positive annual incomes of more than $10 million. That rate will jump to 16.5% in the 2026 tax year from 11% in 2019.

The agency said again that it would not increase audit rates on individuals and small businesses that earn less than $400,000, in keeping …