Danny Werfel

IRS Commissioner Danny Werfel has disclosed that wealthy Americans are evading taxes amounting to over $150 billion annually, a situation that is contributing to a “lack of fairness” in the tax system. The IRS is now deploying significant resources to address this issue. What Happened:...

The Internal Revenue Service (IRS) this month is set to audit 75 major partnerships, including leading hedge funds and real estate companies. The selected entities, which have an average of $10 billion in assets, were identified with the assistance of artificial intelligence (AI) tools, allowing...

The Internal Revenue Service announced Tuesday that it would delay the start of the tax-filing season up to two weeks because of the recent 16-day government shutdown. Acting IRS commissioner, Danny Werfel said, “Readying our systems to handle the tax season is an intricate, detailed process,...