TaxAdministrationUS taxman to increase personal audits

US taxman to increase personal audits

Government also considering new laws to collect more taxes

As part of an attempt to collect $290bn (?145bn) in taxes lost due to the
growing ‘tax gap,’, the US Internal Revenue
Service
has increased tax audits.

At the same time the IRS is considering new laws to collect more taxes.

Last year the IRS examined more than 6% of returns from filers whose income
exceeded $1m, up from a 5% rate in 2004.

People who put small-business income on their returns also met with higher
scrutiny, the IRS said.

Further reading:

US tax agent charged with tax dodging

Intel appeals against $2.4bn tax bill

IRS forces space tripper to cancel adventure

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