‘Many engaged in tax evasion’: A new IRS plan targets high-income Americans who haven’t done this 1 simple thing in recent years — here’s what you need to know The IRS is cracking down on thousands of high-income Americans who haven’t filed their tax returns for several years — and have managed to dodge accountability … Read more
By David Lawder WASHINGTON (Reuters) – The Internal Revenue Service said on Thursday it will go after high-income earners who have failed to file tax returns in 125,000 cases since 2017, resurrecting a non-filer enforcement program that was idled for years by past budget cuts. The IRS said that the $80 billion in funding over … Read more
The IRS building in Washington D.C. The IRS recently announced a major tax enforcement initiative that will increase scrutiny on high-income earners, partnerships and people with foreign bank accounts. The agency said the effort would “restore fairness to [the] tax system” by focusing on wealthy taxpayers who have seen sharp declines in audit rates over … Read more