An IRS policy governing the audits of tax returns filed by U.S. presidents is under new scrutiny
governing the audits of tax returns filed by U.S. presidents is under new scrutiny after a report published by a congressional panel found the agency failed to perform the mandatory inspection of Donald Trump's returns until Congress pressed for information about the process.
“It only became an issue with a president who refused to release his tax returns,” Koskinen said. “If Trump had been releasing his returns, nobody would have raised this issue.” A new $80 billion infusion of funds through the so-called Inflation Reduction Act is supposed to remedy the beleaguered agency's low staffing levels, outdated technology and host of other issues.
in October projects that for 2017 to 2019, the estimated average gross tax gap will be $540 billion per year., and has repeated at various speaking engagements, that the new funds allocated by Congress would be used to increase audits on high-wealth individuals, firms and complex pass-throughs.
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