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Despite these gains, the IRS faces funding cuts: $1.4 billion was rescinded earlier, and $20 billion is frozen or redirected under recent budget deals.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

  • MutilationWave@lemmy.world
    3·
    13 days ago

    Only one argument here- the police don’t protect anyone, they protect rich people’s property. It’s been proven in court that they have no duty to “protect and serve” the people. If you get robbed right now, right this second, and call the police, they will come and take a statement from you, asking the value of the missing money and items, print it on a sheet of paper and file it in a drawer (or on a computer system).