KPMG article: Update on the IRS’s focus on high-income and high-wealth individuals

Recent IRS activity and experience in audits of HIHW taxpayers

Download PDF
Share
April 9, 2025

The IRS Global High Wealth Industry Group has been a significant focus for the IRS, especially in its efforts to audit high-income and high-wealth (HIHW) individuals. As of the end of 2023, the IRS had renewed its focus on these audits, highlighting the importance of understanding the complexities involved in HIHW audits. Despite potential changes in audit rates due to shifts in administrative priorities, workforce reductions, or funding cuts, it remains crucial for HIHW taxpayers and their advisers to stay prepared.

Read a March 2025 article* prepared by KPMG LLP tax professionals that discusses recent IRS activity and experience in audits of HIHW taxpayers.

* This article, which originally appeared in Tax Notes Federal (March 31, 2025) and is provided with permission, updates a prior article from 2023: IRS refocuses on enforcement of high-income and high-wealth individuals

Thank you!

Thank you for contacting KPMG. We will respond to you as soon as possible.

Contact KPMG

Use this form to submit general inquiries to KPMG. We will respond to you as soon as possible.

By submitting, you agree that KPMG LLP may process any personal information you provide pursuant to KPMG LLP's . Privacy Statement

An error occurred. Please contact customer support.

Job seekers

Visit our careers section or search our jobs database.

Submit RFP

Use the RFP submission form to detail the services KPMG can help assist you with.

Office locations

International hotline

You can confidentially report concerns to the KPMG International hotline

Press contacts

Do you need to speak with our Press Office? Here's how to get in touch.

Headline