IRS Cracks Down on Wealthy Tax Evaders: A Success Story
High-Income Individuals Held Accountable for Unpaid Taxes
According to Wonkette, The government’s tax agency, the IRS, has caught hundreds of rich people who didn’t pay their taxes. They made $1 billion in taxes and penalties from these wealthy individuals. This is a big deal because the IRS could not do this before due to lack of funding.
The IRS sent notices to people who make over $1 million or $400,000 yearly and haven’t been paying their taxes. This shows that tax evasion is not just a problem for small-time crooks, but also for rich Americans.
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Revitalized IRS: Ensuring Fair Taxation through Increased Funding
This is good news because the IRS has been underfunded and understaffed for a long time. Some politicians have even tried to cut its funding or get rid of it altogether. But now, with more funding, the IRS can do its job properly and make sure everyone pays their fair share of taxes.