IRS contacting high-income earners who failed to file taxes
From
Biased Journalism@21:1/5 to
All on Sun Mar 3 08:46:44 2024
XPost: or.politics, ca.politics, alt.fan.rush-limbaugh
XPost: talk.politics.guns
IRS contacting high-income earners who failed to file taxes
Justin Boggs
The Internal Revenue Service said it is stepping up enforcement of
high-income non-tax filers in the coming weeks.
According to the IRS, the agency will send out notices to 25,000 Americans believed to have earned over $1 million who missed a tax return between
2017 and 2021, while an additional 100,000 notices will be sent to those
making incomes between $400,000 and $1 million.
Of the 125,000 letters that are being sent, some are receiving multiple
notices for missing multiple years. The letter will include a CP59 notice, explaining the process to rectify their tax situation.
The IRS said it could ascertain income levels based on documents reported
to the agency, including W2 and 1099 forms.
The stepped-up enforcement is in response to the 2022 passage of the
Inflation Reduction Act, which helped bolster the agency's staffing
levels. The bill, which provided $80 billion for the IRS to strengthen its staffing, was universally opposed by congressional Republicans.
Republicans have decried the legislation, especially the additional
funding for the IRS. Many Republicans have accused the Biden
administration of using the IRS to increase audits on middle-income
taxpayers - a claim the Biden administration has pushed back on.
Before the bump in funding, the IRS said it struggled to keep up with compliance letters and ensure high-income earners were paying their taxes.
"At this time of year when millions of hard-working people are doing the
right thing paying their taxes, we cannot tolerate those with higher
incomes failing to do a basic civic duty of filing a tax return," said IRS Commissioner Danny Werfel. "The IRS is taking this step to address this
most basic form of non-compliance, which includes many who are engaged in
tax evasion. This is one of the clearest examples of the need to have a properly funded IRS. With the Inflation Reduction Act resources, the
agency finally has the funding to identify non-filers, ensure they meet
this core civic responsibility, and ultimately help ensure fairness for everyone who plays by the rules."
The IRS said that those who missed filing their taxes should rectify their
tax situation as soon as possible as penalties and interest compound.
The IRS said that among those receiving letters, it conservatively
estimates there are hundreds of millions of unpaid taxes.
--
==================================================
Anyone that isn't confused doesn't really
understand the situation.
~Edward R. Murrow USA WWII Correspondent ==================================================
--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)