The beefed-up enforcement is part of the agency’s modernization initiative aimed at improving customer service and catching wealthy tax evaders. The

I.R.S. Crackdown on Delinquent Millionaires Yields $1 Billion

submited by

Style Pass

2024-07-11 16:30:20

The beefed-up enforcement is part of the agency’s modernization initiative aimed at improving customer service and catching wealthy tax evaders.

The Biden administration’s yearlong effort to crack down on delinquent rich taxpayers has yielded $1 billion, a milestone that the Treasury Department said on Thursday was the result of beefed-up enforcement by the Internal Revenue Service.

The tax agency has been undergoing a $60 billion modernization initiative aimed at improving its customer service and catching wealthy tax evaders. The Biden administration, which initially signed a law giving $80 billion to the agency, continues to contend with attempts by Republicans in Congress to claw back more of the money. As a result, the administration has been trying to demonstrate that the funds are being put to good use by bringing in additional tax revenue that has been going uncollected.

“Efforts to increase tax fairness and bring in revenue from high-end taxpayers who have not paid what they owe are already paying off to the American people,” Treasury Secretary Janet L. Yellen said during a briefing with reporters.