The collections included $1.3 billion from high-income taxpayers who did not pay overdue tax debts and $2.9 billion related to IRS Criminal Investigation work into crimes like drug trafficking and terrorist financing. Despite its gains, the future of the agency's funding is in limbo.

Summary

The IRS announced it has recovered $4.7 billion in back taxes and criminal proceeds since receiving $80 billion in funding through the 2022 Inflation Reduction Act.

This includes $1.3 billion from wealthy tax dodgers and $2.9 billion from criminal investigations.

Despite these gains, the IRS faces funding cuts: $1.4 billion was rescinded earlier, and $20 billion is frozen or redirected under recent budget deals.

Republicans, under a new majority, aim to further reduce IRS funding and renew Trump-era tax cuts. Trump has nominated Billy Long as the next IRS commissioner, drawing criticism from Democrats.

  • yeahiknow3@lemmings.world
    11·
    13 days ago

    Let me know after you move to a region with no taxes. I’ll come kill you and take all your stuff since there’s no justice system.