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.
The Tony Awards on Sunday lured 4.85 million viewers to CBS, its largest broadcast audience in six years. CBS says Monday that Nielsen data shows the telecast â hosted by âWickedâ star Cynthia Erivo â scored a 38% increase over last yearâs 3.53 million viewers. Thatâs the largest audience for the Tonys since 2019, when the telecast that year nabbed 5.4 million viewers and âHadestownâ was crowned best new musical. The latest version also had to compete with the second game of the NBA Finals, between the Thunder and Pacers,
After stumbling out of the starting gate in Big Techâs pivotal race to capitalize on artificial intelligence, Apple tried to regain its footing Monday during a developers conference that focused mostly on incremental advances and cosmetic changes in its technology.
Six weeks before UnitedHealthcare CEO Brian Thompson was gunned down outside a Manhattan hotel last December, Luigi Mangione mused about rebelling against âthe deadly, greed fueled health insurance cartelâ and expressed that killing the executive âconveys a greedy bastard that had it coming."
Shaquille OâNeal and Allen Iverson once clashed on the court in the 2001 NBA Finals, but now the basketball legends are joining forces to revive the Reebok brand they helped make iconic.
Midea is voluntarily recalling about 1.7 million of its popular U and U+ Smart air conditioners because pooled water in the units may not drain fast enough, leading to mold growth.
