The agency is adding AI tools to identify taxpayers who make $1 million and up, and have more than $250,000 in tax evasion.
Artificial intelligence will reportedly change the way the IRS issues audits, prioritizing high-income taxpayers who have a total income of $1 million and will identify which individuals have more than $250,000 in recognized tax debt. By implementing AI, the IRS said in a press release it “will help IRS compliance teams better detect tax cheating, identify emerging compliance threats and improve case selection tools.
It will reportedly be used to target hedge funds, real estate investment partnerships, and law firms who may have skirted the rulesAdvertisementIRS Commissioner Daniel Werfel said at a press conference: “New tools are helping us see patterns and trends that we could not see before, and as a result, we have higher confidence on where to look and find where large partnerships are shielding income,”
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