US EditionThe IRS—with A.I. help—is going after 1,600 ultra-rich Americans it says owe at least $250,000 each in back taxes
- The IRS is launching a new effort to aggressively pursue 1,600 millionaires and 75 large business partnerships that owe hundreds of millions of dollars in past-due taxes. With increased funding and the use of artificial intelligence tools, the agency aims to target wealthy individuals who have evaded taxes. The initiative will begin in October and involves a significant hiring effort and the development of AI research tools.
- The top 1% of U.S. Income earners fail to report over 20% of their earnings to the IRS, according to a team of academic economists and IRS researchers. This highlights the extent of tax evasion among wealthy individuals.
- The IRS's enhanced ability to identify tax delinquents was made possible by the Inflation Reduction Act, signed into law by President Joe Biden in August 2022. However, the agency's funding is at risk of potential cutbacks by Congress, which could hinder its efforts to address tax evasion.
104 Articles
104 Articles
IRS to crack down on 1,600 millionaires in pursuit of back taxes
WASHINGTON (AP) — The IRS announced Friday it is launching an effort to aggressively pursue 1,600 millionaires and 75 large business partnerships that owe hundreds of millions of dollars in past due taxes.
The IRS Plans to Crack Down on 1,600 Millionaires to Collect Millions of Dollars in Back Taxes
WASHINGTON (AP) — The IRS announced on Friday it is launching an effort to aggressively pursue 1,600 millionaires and 75 large business partnerships that owe hundreds of millions of dollars in past due taxes.
The IRS plans to crack down on 1,600 millionaires to collect millions of dollars in back taxes
The IRS announced on Friday it is launching an effort to aggressively pursue 1,600 millionaires and 75 large business partnerships that owe hundreds of millions of dollars in past-due taxes.
IRS Plans to Crack Down on 1,600 Millionaires for Back Taxes
The IRS announced on Friday that it is launching an effort to aggressively pursue 1,600 millionaires and 75 large business partnerships that owe hundreds of millions of dollars in past due taxes. IRS Commissioner Daniel Werfel said that with a boost in federal funding and the help of artificial intelligence tools, the agency has new means of targeting wealthy people who have "cut corners" on their taxes. "If you pay your taxes on time, it should…
The IRS plans to crack down on 1,600 millionaires to collect millions in back taxes - Austin Daily Herald
WASHINGTON — The IRS announced on Friday it is launching an effort to aggressively pursue 1,600 millionaires and 75 large business partnerships that owe hundreds of millions of dollars in past due taxes. IRS Commissioner Daniel Werfel said that with a boost in federal funding and the help of artificial intelligence tools, the agency has new means of targeting wealthy people who have “cut corners” on their taxes. “If you pay your taxes on time it…
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