If You Make a Decent Income, Watch Out Because the IRS Plans to Audit More High-Income Taxpayers!

Posted on July 17, 2020

If you make a decent income, you better watch out because the IRS is planning to audit more high-income taxpayers according to Treasury Secretary Steven Mnuchin. During a House Ways and Means Committee Hearing on the president’s 2020-2021 budget, Mnuchin said “I have specifically directed the IRS Commissioner to come up with a plan to increase the amount of funding so that we can audit more high-income earners. That is specifically in our plan.” The IRS is also recently conducting more audits with lower-income taxpayers as well. Nobody is safe!

Are you being audited by the IRS or think that your already filed tax returns expose you to an audit? There are civil ($) and criminal (jail) consequences for filing tax returns that you know are wrong. If your tax return is being audited or if you are afraid of being audited, give us a call, we can help!