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IRS says it collected $360 million more from rich tax cheats as its funding is threatened yet again (abc7.com)

submitted 10 months ago by Five@slrpnk.net to c/usnews

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[–] tardigrada 5 points 10 months ago

Biden Crackdown Hauls In $520 Million In Back Taxes From The Ultrawealthy

Using new funding earmarked for the IRS to target wealthy and corporate tax cheats, the IRS since mid-2022 has collected more than $520 million from about 1,600 households with income of more than $1 million and that are known to have unpaid tax bills of more than $250,000.

[...]The money [to fund the IRS] comes from the 2022 Inflation Reduction Act. Known as the Biden administration’s climate and infrastructure bill, the $369 billion law also set aside $78 billion over the next decade for the IRS to hire customer support staff for ordinary taxpayers and new auditors who would focus on the filings of the ultrarich.