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.
International Master Alice Lee defeated grandmaster Irina Krush to win the American Cup â becoming one of the best women players in the world in the process â but sheâs not stopping there.
You can track your sleep habits or heart rate, but how about your brain? Neurable's MW75-Neuro headphones turn your focus and productivity into data you can use to avoid burnout â here's how they do it.
Inflation continues to tick slightly higher â but look beyond the âMagnificent Sevenâ and youâll see there are plenty of companies still doing well.
Whether itâs a deepfake video of actor Tom Cruise discovering gum in a lollipop or President Joe Biden discouraging people from voting via telephone, youâve likely come across a deepfake video, photo or audio recording.Â
Tensions in the South China Sea, Apple moving to India, and banning TikTok? The podcast âFace Off: The U.S. Versus Chinaâ helps explain how we got here.
Cust2Mate is a leading innovator in retail technology, aiming to revolutionize the shopping experience. By implementing smart cart technology, the tech company addresses the issue of theft while enhancing the shopper's journey.
The Biden administration has unveiled a plan, Plan B, to address the student loan debt crisis. It offers to cancel up to $20,000 in interest for borrowers enrolled in income-driven repayment plans. This proposal aims to reset balances for those facing growing debt due to unpaid interest, benefiting lowâand middle-income borrowers. An estimated 25 million borrowers are eligible for some form of interest forgiveness.
As we head into the second quarter, thereâs an argument in favor of buying Boeing stock. Why? As one expert says, âthereâs nowhere else to get planes.â
