IRS collected $1 billion in back taxes from millionaires in less than a year ...Middle East

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IRS collected $1 billion in back taxes from millionaires in less than a year
By Katie Lobosco, CNN Washington (CNN) — The Internal Revenue Service said Thursday that it has collected more than $1 billion in past-due taxes from millionaires since last fall – thanks to a ramp up of enforcement efforts funded by the Democrat-backed Inflation Reduction Act that passed Congress nearly two years ago. The Biden administration is eager to show how the IRS is using the money to crack down on wealthy tax cheats and improve taxpayers services. Republicans, who have criticized the funding as wasteful spending, have made several efforts to chip away at the 10-year investment provided by the legislation. Last fall, the IRS launched an initiative to collect from wealthy indi

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