The Internal Revenue Service (IRS) revealed on Thursday that it has collected more than $1 billion in back taxes from the wealthiest Americans, giving credit to the increased collection efforts resulting from the passing of the Inflation Reduction Act in Congress about two years ago.
This announcement showed the eagerness of the Biden administration to make public the results of the IRS funding, particularly in cracking down on millionaire tax cheats. The funding was being questioned by Republicans, calling it wasteful spending.
