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IRS Collected Half a Billion Dollars in Back Taxes From Delinquent Millionaires in 2023, Sentencing Some to Prison (www.goodnewsnetwork.org)

submitted 9 months ago by tardigrada@beehaw.org to c/usnews@beehaw.org

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The Internal Revenue Service says it collected $482 million from wealthy tax cheats last year, in a continuing effort to step up their enforcement.

The IRS released their year-end progress report this month, saying they will continue to audit large corporations, high-income individuals, and complex partnerships who are not paying their fair share of U.S. taxes.

The agency says it pursued 1,600 millionaires to recoup the overdue tax payments and will not stop now.

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[–] furrowsofar@beehaw.org 3 points 9 months ago* (last edited 9 months ago)

Inflation has made millionaire middle class. Go after the billionaires please or at least 10 or 100 million level.

Pretty much anyone that can afford to retire is a millionaire these days especially if you include pension and social security values and all their other assets.