IRS Collects Over $1 Billion in Tax Debts from High-Income Taxpayers

The IRS and the Treasury Department have announced the collection of over $1 billion in tax debts from high-income taxpayers within a year, following an initiative launched in September 2024. Targeting 1,600 individuals with incomes over $1 million and tax debts exceeding $250,000, this effort, supported by the Inflation Reduction Act, underscores the agency’s enhanced enforcement capabilities. IRS Commissioner Danny Werfel highlighted the importance of sustained funding for enforcement and improved tax compliance, aiming to reverse the trend of declining audit rates and ensuring high-wealth taxpayers fulfill their obligations.

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https://www.irs.gov/newsroom/irs-tops-1-billion-in-past-due-taxes-collected-from-millionaires-compliance-efforts-continue-involving-high-wealth-groups-corporations-partnerships