The IRS has announced that it has successfully collected $1.3 billion from high-wealth tax dodgers since last fall. This achievement is attributed to increased collection enforcement efforts following the enactment of President Joe Biden's climate, health care, and tax package in 2022.
Treasury Secretary Janet Yellen and IRS Commissioner Danny Werfel visited an IRS campus in Austin, Texas, to disclose this significant milestone in tax collections. Yellen highlighted that in 2019, the top one percent of wealthy Americans accounted for over one-fifth of all unpaid taxes, placing a disproportionate burden on ordinary taxpayers.
