In what he described as “the start of sweeping, historic effort,” IRS Commissioner Danny Werfel recently announced a plan to focus more tax enforcement efforts on the wealthy and those who “cut corners” on tax compliance.
While some of the plans are familiar — such as auditing more millionaires — the specificity is new, particularly an announced focus on large partnerships.
Werfel discussed using artificial intelligence (AI) to find patterns and trends among large partnerships and to identify possible non-filers who hold millions in foreign bank accounts.
The commissioner credited funds allocated to the IRS by the Inflation Reduction Act for the improvements, vowing the agency will hold “our wealthiest filers accountable to pay the full amount of what they owe.” Learn more.