The IRS on Thursday unveiled plans to target wealthy "non-filers" with a new round of compliance letters. Here's what taxpayers need to know.
  • The IRS on Thursday unveiled plans to target wealthy “non-filers” with a new round of compliance letters.
  • Non-filers making between $400,000 and more than $1 million with unfiled federal returns from tax years 2017 to 2021 will receive the initial round of letters.
  • The agency urges recipients to take “immediate action” to avoid more letters, higher penalties and “stronger enforcement measures.”
  • n2burns@lemmy.ca
    29·
    9 months ago

    Were you “audited” or actually audited? So many people say they were “audited” when they actually just received a letter asking them to support what they claimed. An actual audit is a full review of absolutely everything to re-build up your returns from scratch and verify every little detail. Even for basic returns audits often take multiple days to complete.