IRS Commissioner Daniel Werfel said that with a boost in federal funding and the help of artificial intelligence tools, the agency has new means of targeting wealthy people who have “cut corners” on their taxes.
“If you pay your taxes on time it should be particularly frustrating when you see that wealthy filers are not,” Werfel told reporters in a call previewing the announcement. He said 1,600 millionaires who owe at least $250,000 each in back taxes and 75 large business partnerships that have assets of roughly $10 billion on average are targeted for the new “compliance efforts.”
The speeding analogy is my go-to example. Many people go a little bit over and it’s not a huge deal. Some people go 20mph under and they’re just weird. Sometimes jerks get away with going 100mph and then you get a ticket for rolling a stop sign. Is what it is, most reasonable people are fine, or you can roll the dice and see what happens.