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 — 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 agency’s ongoing effort to pursue high wealth tax cheats — mandated in part by funding provided through Democrats’ 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.
“When people don’t file a tax return they’re required to, it’s not fair to those hardworking taxpayers who responsibly do their civic duty under the laws of our nation,” IRS Commissioner Daniel Werfel told reporters Thursday morning.
Fresh off the company’s IPO at the New York Stock Exchange Bowhead Specialty CEO Stephen Sills discusses what’s next and why some insurance rates are rising.
AAA predicts a surge in summer 2024 travel, with 44 million travelers, surpassing pre-pandemic levels. Expect more solo trips, AI use, and Taylor Swift.
As Americans prepare for a long weekend of grilling, Impossible Foods wants to put aside the culture wars, win over meat eaters – and IPO when it's 'ready.'
In April, grocery prices rose by 1.2 percent, reaching pre-pandemic levels of food inflation. Could an e-commerce grocer be the solution? Thrive Market says yes
The Recording Academy CEO, Harvey Mason Jr., sat down with Cheddar to discuss what to expect on Sunday, February 2nd 2025 at the 67th Annual Grammy Awards.