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The IRS is going after millionaires using artificial intelligence

The IRS is going after millionaires using artificial intelligence

According to their announcement, they will eliminate the working class and turn their attention to the wealthiest, using cutting-edge technology to uncover sophisticated methods of tax evasion.

US Internal Revenue Service (IRS) a In a statement issued last week It announced that it is deploying the latest machine learning technologies to ensure justice and crack down on lawbreakers. Moreover, this time, they will specifically target the richest US citizens and large companies with artificial intelligence, looking for discrepancies, among other things, in the areas of accounting, corporate taxation, income tax or international taxation, which their “investigative coverage” is based on the wording. The IRS has been “traditionally limited.”

According to the statement, with the integration of AI, full accountability of the wealthiest people will become more effective, and to this end, through the “synthesis of high-tech resources,” they will gain deeper insight into the major abuses and practices through which the wealthiest people commit wrongdoing. Protect their income from the tax office. The IRS is also trying to make clear that it is not targeting poorer citizens with AI, but will instead focus on large corporations and taxpayers with annual revenues of more than $1 million or tax liabilities of more than $250,000.

We wish you good luck

The “groundbreaking collaboration between data science experts and tax enforcement experts” will begin soon as the agency will launch investigations into 75 of its largest affiliates by the end of September — which include hedge funds, real estate investors, public companies and large law firms. And other businesses in various industries.. According to the IRS, these taxpayers own, on average, more than $10 billion in assets, and among them, artificial intelligence has a good opportunity to extract amounts that can be clearly seen with the naked eye.

like It has been highlighted in reportsThis would be a really useful application for AI technology if it turns out to be effective. Although not much is known about the system introduced by the IRS, one of the strengths of AI is pattern recognition. In other words, if deception has been easier in the case of large assets until now, machine learning models seem particularly well-suited to dispel the fog, detect violations, and deter future violations, which the announcement described as critical to the future of the American tax system. .

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