The Office of Management and Budget is calling for a major overhaul in how federal agencies conduct financial audits.

GENIUS Act passed by the Senate in June 2025 and headed to the House of Representatives provides a rare opportunity to engage ...

The board’s decision to ignore the $10 million transfer, experts say, could jeopardize the tax-exempt status of the ...

Home; Taxes; Fewer Agents, Fewer Audits: How IRS Staff Cuts Are Changing Enforcement. Significant reductions in the IRS workforce appear to be increasing the number of 'no change' audit closures.

The IRS can be a sinister foe. The federal government's tax collection service has plenty of tools at its disposal when seeking to impose tax obligations on American citizens. There are a number of ...

The Internal Revenue Service is expected to lean more heavily on artificial intelligence technology as it carries out widespread layoffs. A report, released last week by the Treasury Inspector General ...

At the same time IRS audits and enforcement fall, accountants and tax lawyers say it’s likely the agency will have less capacity to provide decisions or paperwork that can solve a tax problem.

Luckily, a little bit of extra precaution can go a long way in preventing an IRS letter. Below, Weisberg shared the top 4 mistakes that could trigger an IRS audit and how to avoid them.

The IRS did not immediately respond to requests from POLITICO to confirm the existence of the Hegseth audit. A former Biden administration official called Hegseth’s claims not only “false ...

But, these ten audit red flags could increase the chances that the IRS will give your return unwelcome attention. Related: Check out Kiplinger's tax blog for the 2025 filing season .

tax returns; Ten IRS Audit Red Flags for Self-Employed Individuals. Taxpayers who file Schedule C with their Form 1040 have a greater chance of an IRS audit. Newsletter sign up Newsletter; ...

But the IRS is off to a bit of a slower start on partnership audits than it had originally anticipated. In 2024, it began 2,285 partnership exams, down from its goal of 4,074 audits and way below ...