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Politics : The Trump Presidency
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From: bustersmith9/6/2024 9:51:42 AM
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Yet Another Rube Myth Laid To Rest...

IRS says it has recovered $1.3 billion in unpaid taxes from rich Americans

Source: CBS News

The IRS said Friday that it has recovered $1.3 billion in unpaid taxes from high-income Americans who had either failed to file their returns or who hadn't fully paid what they owed.

The announcement, made jointly with the U.S. Treasury Department, is aimed at highlighting the agency's ramped-up enforcement efforts against tax cheats, which have been funded under the 2022 Inflation Reduction Act.

That IRS funding has proved controversial, with some Republican lawmakers falsely claiming the money would be used to hire 87,000 new IRS agents to "to audit Walmart shoppers."

Instead, the IRS says the money is being invested in improved customer service following years of snarls during the pandemic, as well as to increase the number of audits on people with more than $1 million in annual income and more than $250,000 in tax debts.

Read more: cbsnews.com

Link to Department of Treasury PRESS RELEASE - U.S. Department of the Treasury, IRS Announce $1.3 Billion Recovered from High-Income, High-Wealth Individuals Under Biden-Harris Inflation Reduction Act Initiatives
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