The IRS allocated some of its funding from the Inflation Reduction Act to tax enforcement, and tax-evading millionaires and billionaires are targets. The agency has already closed approximately 175 delinquent tax cases, resulting in a $38 million payday for the U.S. government. With billions of dollars of potential IRS funding on the line (some of which Republican lawmakers have clawed back), the agency is motivated to continue tax collection efforts against the wealthy, and the IRS is nowhere near done.
According to IRS Commissioner Danny Werfel, the recently collected $38 million in taxes from the wealthy is “just the start.”
