{"id":1973471,"date":"2023-07-14T18:22:02","date_gmt":"2023-07-14T22:22:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/delinquent-millionaires-irs-announces-targeting-of-high-income-americans-for-tax-evasion\/"},"modified":"2023-07-14T18:24:55","modified_gmt":"2023-07-14T22:24:55","slug":"delinquent-millionaires-irs-announces-targeting-of-high-income-americans-for-tax-evasion","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/delinquent-millionaires-irs-announces-targeting-of-high-income-americans-for-tax-evasion\/","title":{"rendered":"IRS targets wealthy Americans for tax evasion."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdelinquent-millionaires-irs-announces-targeting-of-high-income-americans-for-tax-evasion%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1973471&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"post_content\">\n<div class=\"aplayer_app\" data-source=\"https:\/\/vs1.youmaker.com\/assets\/2023\/0714\/a4914a1c-0075-4fac-9a40-1ab0f21996d1\/audio.mp3?length=4199085&#038;duration=350\"><\/div>\n<\/p>\n<p>The IRS is cracking down on tax evasion by <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/what-we-really-need-to-do-to-make-college-affordable\/\" title=\"What We Really Need To Do To Make College Affordable\">high-income individuals<\/a>, and they claim to have already recovered millions of dollars. This comes at a time when the agency is facing criticism for targeting lower-income Americans in their tax audits. But now, the IRS is taking swift and aggressive action to ensure that wealthy taxpayers pay their fair share.<\/p>\n<p>In recent months, the IRS&#8217;s Criminal Investigation team has <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/delinquent-millionaires-irs-announces-targeting-of-high-income-americans-for-tax-evasion\/\" title=\"IRS targets wealthy Americans for tax evasion.\">successfully closed numerous cases involving tax evasion<\/a>, money laundering, and false tax returns by wealthy individuals. These tax evaders have been using their owed money to indulge in gambling, vacations, and luxury goods. In one case alone, the person was ordered to pay over $6 million in restitution.<\/p>\n<p>The IRS has closed around 175 delinquent tax cases for millionaires in the past few months, resulting in $38 million in recoveries. And this is just the beginning. The agency plans to continue pursuing delinquent millionaires as they strengthen their enforcement capabilities.<\/p>\n<p>Additionally, the IRS has identified approximately 100 high-income individuals who were living in Puerto Rico without genuine residency, solely to take advantage of potential tax breaks. They are also investigating taxpayers who are improperly claiming tax exemptions through Washington&#8217;s treaty with Malta.<\/p>\n<p>Commissioner Danny Werfel emphasized that the IRS is now laser-focused on holding millionaires and billionaires accountable for their tax obligations. The Inflation Reduction Act, passed last year, allocated $80 billion to the IRS over ten years to enhance enforcement and improve operations.<\/p>\n<p>However, the IRS&#8217;s targeting of millionaires has raised concerns about their treatment of lower-income families. Recent data shows that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dems-lie-about-irs-audits\/\" title=\"Dems Lie About IRS Audits\">low-income wage-earners<\/a>, who rely on the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/amazon-wants-15-federal-minimum-wage-reports-small-businesses-would-be-hardest-hit\/\" title=\"Amazon Wants  Federal Minimum Wage; Reports: Small Businesses Would Be Hardest Hit\">earned income tax credit<\/a>, have significantly higher audit rates compared to other taxpayers. This credit is designed to help the lowest wage-earners offset their taxes.<\/p>\n<h2>IRS&#8217;s Focus On Low-Wage Earners<\/h2>\n<p>In a report to Congress, National Taxpayer Advocate Erin M. Collins highlighted that in fiscal year 2019, over half of the taxpayers subjected to correspondence audits had total positive incomes of less than $50,000. These taxpayers face unique challenges in navigating the audit process.<\/p>\n<p>It&#8217;s clear that the IRS is determined to ensure that high-income individuals pay their fair share of taxes. While they face criticism for their treatment of lower-income families, the agency is actively working to close the gap and hold wealthy taxpayers accountable.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>taxes they owe,\u201d said IRS Commissioner Chuck Rettig. Despite criticism, the agency has successfully recovered substantial amounts from tax evaders. However, concerns remain regarding the disproportionate focus on lower-income individuals during audits. The IRS aims to strike a balance and hold high-income individuals accountable for their tax obligations.<\/p>\n","protected":false},"author":186,"featured_media":1973472,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-1973471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1973471","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/186"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1973471"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1973471\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1973472"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1973471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1973471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1973471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}