A sign is displayed outside the Internal Revenue Service building May 4, 2021, in Washington. (AP Photo/Patrick Semansky, File)
The IRS plans to go after 125,000 high-income earners who did not file tax returns going back to 2017 â and the agency says hundreds of millions of dollars of unpaid taxes are involved in these cases.
Beginning this week, the IRS will start sending out noncompliance letters to more than 25,000 people who earn more than $1 million per year and 100,000 people with incomes between $400,000 and $1 million who failed to pay their taxes between 2017 and 2021.
The campaign announced Thursday is part of the agencyâs ongoing effort to pursue high wealth tax cheats â mandated in part by funding provided through Democratsâ Inflation Reduction Act passed into law in 2022 and a directive from Treasury Secretary Janet Yellen to IRS leadership not to increase audit rates on people making less than $400,000 a year annually.
âWhen people donât file a tax return theyâre required to, itâs not fair to those hardworking taxpayers who responsibly do their civic duty under the laws of our nation,â IRS Commissioner Daniel Werfel told reporters Thursday morning.
Billionaire Warren Buffett warned shareholders Monday that many companies will fare better than his Berkshire Hathaway in the decades ahead as Father Time catches up
MattâŻCalkins, CEO of Appian, breaks down the latest earnings, enterpriseâAI boom, stock signal and what U.S. regulation means for the next wave of AI.
ChrisâŻMarquette of POLITICO breaks down how the FAA is cutting flights and facing a critical shortage of airâtraffic controllers amid the government shutdown.
Dr.âŻManueleâŻAufiero, CEO & CoâFounder of SizableâŻEn a groundbreaking undersea energyâstorage technology powering the global shift to clean, scalable power.
PaulâŻFipps, President of Global Customer Operations at ServiceNow, breaks down the companyâs earnings beat, 5âforâ1 stock split and booming enterprise AI demand
Movie studios are comfortable digging through comic bins for hot new intellectual property, but they are not comfortable returning the favor and sharing th
Chris Versace, CIO at Tematica Research and portfolio manager for TheStreet Pro, joins from the NYSE to break down the Fedâs latest move and Big Techâs earnings
Sabrina Siddiqui, National Politics Reporter at The Wall Street Journal, joins to break down the SNAP funding delays and the human cost of the ongoing shutdown.
