The Internal Revenue Service wasted $22.7 million auditing tax returns that resulted in no additional revenue for the federal government, according to an agency watchdog.
Almost half -- 47.2% -- of the audits on large companies from fiscal years 2016 through 2018 resulted in the IRS concluding that no additional tax was due, the Treasury Inspector General for Tax Administration said in a report released on Thursday.
Additionally, the IRS spent about as much time on audits where there was no change as it did on cases where the taxpayer was found to owe more money, the report said.
“Based ...