WASHINGTON (AP) - The IRS has collected $1.3 billion from high wealth tax dodgers since last fall, the agency announced Friday, crediting spending that has ramped up collection enforcement through President Joe Biden’s signature climate, health care and tax package signed into law in 2022.
Treasury recovers $1.3 billion in unpaid taxes from high wealth tax dodgers
WASHINGTON (AP) - The IRS has collected $1.3 billion from high wealth tax dodgers since last fall, the agency announced Friday, crediting spending that has ramped up collection enforcement through President Joe Biden’s signature climate, health care and tax package signed into law in 2022.
Treasury Secretary Janet Yellen and IRS Commissioner Danny Werfel traveled to Austin, Texas, to tour an IRS campus and announce the latest milestone in tax collections as Republicans warn of big future budget cuts for the tax agency if they take over the White House and Congress.
Yellen, in a planned speech in Austin, will say that in 2019, the top one percent of wealthy Americans owed more than one-fifth of all unpaid taxes, "leaving ordinary Americans to shoulder the burden. "
"To fix this, we've channeled IRS funding toward significant investments to combat tax evasion,” she says.