The Internal Revenue Service said it plans to sharply increase audit rates for big corporations, partnerships and multimillionaires over the next three years after a massive boost in funding by the Biden administration.
The IRS said in a news release Thursday that it’s aiming to nearly triple its audit rate, to 22.6%, on corporations with upwards of $250 million worth of assets in the 2026 tax year.
The figure marks a steep rise from the 8.8% that were audited in 2019.
