While audits of high-income taxpayers have increased, the actual impact on compliance may be limited, according to a new report from the Treasury Inspector General for Tax Administration.
The inspector general found that while the Internal Revenue Service has increased its audits, the bulk of those have been conducted as correspondence examinations, which limit the issues the agency can address compared with a face‑to‑face examination. The report also said that the end compliance result could also be limited because more than half of all wealthy taxpayer assessments are not collected in a timely manner.
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