IRS Has Collected Over $1B From Wealthy Tax Cheats, Thanks to New Funding

Photo caption: The Internal Revenue Service (IRS) building is pictured on August 18, 2022, in Washington, D.C. Photo credit: Kent Nishimura / Los Angeles Times via Getty Images. Article by Sharon Zhang. Truthout – July 11, 2024.

In less than a year, the Internal Revenue Service (IRS) has been able to capture over $1 billion in unpaid taxes, the agency announced on Thursday, due to its new campaign targeting wealthy tax cheats. As part of new funding provided by Democrats’ Inflation Reduction Act, the agency has targeted 1,600 people with incomes over $1 million who owed more than $250,000 in taxes, the agency said. […]

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