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Discussion and Debate
Discussion and Debate
Politics
American Politics
IRS Collected Another $360 Million from Delinquent Millionaires
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<blockquote data-quote="essentialsaltes" data-source="post: 77663735" data-attributes="member: 294566"><p><h3><a href="https://www.cnn.com/2024/05/02/politics/irs-audit-tax-rates-wealthy/index.html?utm_source=fark&utm_medium=website&utm_content=link&ICID=ref_fark" target="_blank">IRS plans to increase audit rates of wealthy [$10,000,000 and up] taxpayers by 50%</a></h3><p>The IRS also plans to triple the audit rates of large corporations with assets over $250 million, as well as increase the audit rates of business partnerships with assets over $10 million by tenfold over the seven-year period.</p><p></p><p>IRS Commissioner Danny Werfel has repeatedly said the agency is committed to shielding American households that earn less than $400,000 a year from an increase in audit rates. Specifically, audit rates of those Americans will not exceed what they were in 2018, a record-low year, he said Thursday on a call with reporters.</p><p></p><p>The IRS is also using the funding from the Inflation Reduction Act to modernize taxpayer services. As a result, the agency was able to answer 1 million more calls this year than it did during the previous tax season.</p><p></p><p>Earlier this year, the IRS launched a pilot version of its own tax filing service that allowed Americans to file their returns for free directly with the IRS.</p></blockquote><p></p>
[QUOTE="essentialsaltes, post: 77663735, member: 294566"] [HEADING=2][URL='https://www.cnn.com/2024/05/02/politics/irs-audit-tax-rates-wealthy/index.html?utm_source=fark&utm_medium=website&utm_content=link&ICID=ref_fark']IRS plans to increase audit rates of wealthy [$10,000,000 and up] taxpayers by 50%[/URL][/HEADING] The IRS also plans to triple the audit rates of large corporations with assets over $250 million, as well as increase the audit rates of business partnerships with assets over $10 million by tenfold over the seven-year period. IRS Commissioner Danny Werfel has repeatedly said the agency is committed to shielding American households that earn less than $400,000 a year from an increase in audit rates. Specifically, audit rates of those Americans will not exceed what they were in 2018, a record-low year, he said Thursday on a call with reporters. The IRS is also using the funding from the Inflation Reduction Act to modernize taxpayer services. As a result, the agency was able to answer 1 million more calls this year than it did during the previous tax season. Earlier this year, the IRS launched a pilot version of its own tax filing service that allowed Americans to file their returns for free directly with the IRS. [/QUOTE]
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IRS Collected Another $360 Million from Delinquent Millionaires
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