The agency credited the passage of the Inflation Reduction Act for its stepped-up ability to pursue high-income, high-wealth individuals who owe money.

The agency credited the passage of the Inflation Reduction Act for its stepped-up ability to pursue high-income, high-wealth individuals who owe money.

The IRS announced Friday that it has recently collected more than half a billion dollars from millionaire Americans who owed tax debt.

The agency credited the passage of the Inflation Reduction Act for its stepped-up ability to pursue “high-income, high-wealth individuals,” as well as complex partnerships and large corporations, who are not paying overdue tax bills.

The IRA, pushed by President Joe Biden and approved in 2022, earmarked $80 billion over 10 years to step up the IRS’ enforcement capabilities. While $20 billion was ultimately clawed back in 2023 as part of the deal to head off a debt-ceiling crisis, the agency indicated it had already made use of its initial allotment.

Over the past year, the IRS said, enforcement officers had recouped approximately $520 million from the most well-off segments of society.

  • poppy@lemm.ee
    8·
    10 months ago

    Participating states The Direct File pilot will be available to eligible participants in these states:

    Arizona California Florida Massachusetts Nevada New Hampshire New York South Dakota Tennessee Texas Washington state Wyoming

    The pilot is not an option for you if you did not live in one of the 12 participating states in 2023.

    Damn I don’t qualify. I hope it goes well in those states and expands.