The IRS announced on Friday it is launching an effort to aggressively pursue 1,600 millionaires and 75 large business partnerships that owe hundreds of millions of dollars in past-due taxes.
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.
“New tools are helping us see patterns and trends that we could not see before, and as a result, we have higher confidence on where to look and find where large partnerships are shielding income," he said. A team of academic economists and IRS researchers in 2021 found that the top 1% of U.S. income earners fail to report more than 20% of their earnings to the IRS.
“This power and these resources allow them to go after anyone they want,” he said. “The next step is to go after anyone they wish to target for political purposes.” David Williams, at the right-leaning, nonprofit Taxpayers Protection Alliance, said “every business and every person should pay their taxes — full stop." However, “I just hope this isn’t used as a justification to hire thousands of new agents," that would audit Americans en masse, he said.
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