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Goldburd McCone LLP
New York City Tax Lawyers

October 2016 Archives

If the Wealth Squad has its sights on you, watch out

In recent years, the IRS has devoted increasing resources to scrutinizing the tax returns of the very rich. In fact, in a given year, the IRS audits roughly one in four taxpayers with earnings or assets in excess of $10 million. The IRS has its own team of specialists who focus on auditing high net worth individuals and their various holdings. While the IRS calls this group the Global High-Wealth Industry Group, it is known informally as "The Wealth Squad."

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