I.R.S. Crackdown on Delinquent Millionaires Yields $1 Billion

The IRS’s Enhanced Efforts to Collect from Wealthy Tax Evaders

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I.R.S. Crackdown on Delinquent Millionaires Yields $1 Billion

The IRS’s Enhanced Efforts to Collect from Wealthy Tax Evaders

The Biden administration has upped its game in tackling those elusive, well-off tax dodgers, and it’s starting to pay off in a big way for the Treasury. The IRS has embarked on a $60 billion modernization journey, focusing on customer service upgrades and nabbing those who’ve been slipping through the tax net. Let’s dive into this year-long saga, the victories scored, and the hurdles still ahead.

Modernization and Increased Enforcement

Background

Back in August 2022, the Inflation Reduction Act generously handed the IRS $80 billion, specifically to get its act together and boost enforcement. But then, the political tug-of-war led to $20 billion being clawed back. Despite this hiccup, the IRS has managed to make some real headway.

Results