The U.S. Department of the Treasury and IRS announced a "major milestone" of collecting more than $1 billion in past-due taxes from millionaires.
  • The Treasury Department and the IRS announced the collection of more than $1 billion in tax debt from high-income individuals over the past year.
  • In September, the IRS announced plans to expand its scrutiny of those making more than $1 million annually with more than $250,000 in recognized tax debt.
  • However, the funding enacted in 2022 that is allowing the IRS to pursue its plans still has its critics, particularly among congressional Republicans.
  • @Bassman1805
    22•23 days ago

    This headline uses “millionaires” to mean “people with over a million dollars in annual income” rather than “people with over a million dollars in net worth”

    That’s not your run of the mill “successful career with a healthy 401k” millionaire, that’s at least ten-millionaires, mostly hundred-millionaires, and possibly some billionaires by net worth.