Treasury, IRS announce 'major milestone' of $1 billion in past-due taxes collected from millionaires

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Treasury, IRS announce 'major milestone' of $1 billion in past-due taxes collected from millionaires
cnbc.com
  • 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.
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However, the funding enacted in 2022 that is allowing the IRS to pursue its plans still has its critics, particularly among congressional Republicans.

"How dare they raise revenue from the tax cheats who vote for us!"