![]() ![]() However, the agency said that "even with a conservative estimate, the IRS believes hundreds of millions of dollars of unpaid taxes are involved in these cases." While the cases deal with financial activity of more than $100 billion, taxpayers may be able to claim credits or deductions. The IRS does not know exactly how much it might recuperate through this current round of compliance letters. taxpayers had not filed at all from 2017 to 2020, depriving the government of $65.7 billion. In 2023, a report found that more than 1.4 million high-earning U.S. Non-filing by the wealthiest Americans has cost the federal government a significant amount of money in recent years. "Funding the IRS to track down wealthy tax cheats pays off big time." "The IRS is taking this step to address this most basic form of non-compliance, which includes many who are engaged in tax evasion." ![]() "At this time of year when millions of hard-working people are doing the right thing paying their taxes, we cannot tolerate those with higher incomes failing to do a basic civic duty of filing a tax return," IRS Commissioner Danny Werfel said in the announcement. The enforcement action was made possible by increased IRS funding in the Inflation Reduction Act (IRA). The agency said it would begin mailing compliance letters this week in more than 125,000 cases in which people making over $400,000 a year had refused to file. The Internal Revenue Service announced on Thursday that it was going after high-income earners who had dodged taxes by failing to file tax returns since 2017. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |