The IRS is opening a new front in its campaign to tighten tax enforcement, the latest step the agency is taking after it received a $60 billion pot of extra funding earlier in the Biden administration.
The administration is launching a regulatory campaign focused on businesses set up as partnerships, a type of “pass-through” structure that sends along taxes to owners who pay them at the individual level, according to an announcement today. The Treasury Department said it believes it could collect at least $50 billion over the next decade from the new effort.
