A March report by the U.S. Treasury Inspector General for Tax Administration (TIGTA) highlighted the IRS's sluggish performance. Despite having a strategic operating plan to revamp its auditing structure and provide "transformational change for taxpayers," the IRS only completed 33% of its 58 milestones set for Fiscal Year 2023. The agency is uncertain about how or when it will complete the remaining milestones.

The IRS announced on Thursday its intention to significantly increase audit rates for large corporations, partnerships, and multimillionaires over the next three years. This initiative is part of a broader effort to boost collections through increased enforcement spending and hiring.