IRS Commissioner Says Wealthy Hide $150 Billion In Unpaid Taxes – As They Bully The Poor

The following report is by The Trends Journal:

With an $80-billion cash infusion from the 2022 Inflation Reduction Act, the IRS has launched a major crackdown on large companies, partnerships, and wealthy individuals with particularly complex tax returns, Werfel said.

Until the agency received the extra funds, it lacked enough workers with necessary skills to take apart all of the complicated returns that needed to be audited, Werfel noted.

Audits of taxpayers with annual incomes above $1 million had plunged 80 percent over the previous 10 years, while the number of taxpayers with incomes that high rose by 80 percent, according to IRS figures.