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 said in a speech in Austin 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.”
As long as the audits focus on high value targets. It should not mean predominantly auditing the mass as there is more fuckery with more money at the top.
I’m okay with mid value targets too. A lot of small business owners are tax cheating bastards as well as fortune 500 companies.
Business should get 100pct audits imho.
mandatory audits over a minimum net worth or valuation?