The IRS estimates that $77 billion of the $683 billion tax gap can be attributed to high-income non-filers. Since the inception of the Strategic Operating Plan, the IRS has sent out more than 125,000 compliance letters to taxpayers who have not filed since 2017. As of January 2024, this initiative has recovered $520 million.
The IRS pledges to further increase audit rates by more than 50% on wealthy individual taxpayers with total positive income over $10 million. The agency has expanded its large corporate compliance program, targeting corporate taxpayers with assets averaging at $24 billion and intends to triple audit rates on large corporations.
The IRS plans to increase its hiring of accountants, lawyers, data scientists, and engineers to bolster its capacity to audit high-income taxpayers and large corporations.
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