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