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IRS Guarantees Fewer Audits of Sure Refundable Tax Credit



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IRS audits elevate nervousness for a lot of taxpayers. What might be much more irritating is when these examinations appear inconsistently focused to taxpayers with decrease incomes. That’s been the case with the earned revenue tax credit score (EITC), which has been the topic of current controversy. (A research launched earlier this yr discovered that the IRS audits Black taxpayers at about three to five times higher rates than the company audits different taxpayers.) 

However past the EITC, there have been considerations through the years over whether or not the IRS focuses sufficient on greater earners and has the assets to successfully audit advanced partnerships and huge companies. Now, in a Sept. 18 letter to Senate Finance Committee Chair Ron Wyden (D-Ore.), IRS Commissioner Danny Werfel is pledging to scale back the company’s give attention to EITC and related audits. 

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