The IRS Is Using Artificial Intelligence to Catch Millionaires Dodging Taxes
The Internal Revenue Service (IRS) has a new partner in assisting the crackdown on illegal tax practices: artificial intelligence.
The agency is now using AI to investigate tax evasion in large partnerships, including hedge funds, private equity groups, real estate investors, and major law firms, The New York Times reported. The initiative is part of the IRS’s efforts to enhance its ability to tackle and address nuanced cases that had previously overwhelmed the agency. The IRS plans to initiate examinations into 75 of the nation’s largest partnerships identified with AI assistance.