The Internal Revenue Service will soon join the parade of government agencies kicking the tires of mutual funds.

In August the IRS will break new ground by methodically auditing the books of as many as 50 funds. That's a departure from the agency's usual practice of focusing only on the companies that run the funds.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.