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Wealthy Americans Escape Tax Hikes in Bill But Would Face Beefed-Up IRS

  • Bill empowers IRS to collect hundreds of billions of dollars
  • Audit levels on wealthy Americans have fallen to historic lows
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Democrats Agree on Revised Tax and Climate Bill

Wealthy Americans dodged getting hit by tax increases in the Democrats’ economic package, but they likely will face a much better-funded Internal Revenue Service equipped with new auditors and technology to uncover tax avoidance.

Top-earning Americans should be prepared for audit levels they haven’t seen in decades as the agency prepares to train an expanded workforce that specializes in complex financial dealings, including cryptocurrencies and offshore investments.