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IRS Conducted 36 High-Wealth Program Audits, Report Says

The U.S. Internal Revenue Service collected $48 million in 36 audits completed under its Global High-Wealth initiative, according to a report by the Transactional Records Access Clearinghouse at Syracuse University in New York.

The report, which uses internal IRS reports obtained through a court order, said that 12 of the 36 finished audits resulted in no additional taxes being imposed.