The Internal Revenue Service (IRS) announced new enforcement initiatives Friday to crack down on 1,600 millionaires and 75 large companies it said owe hundreds of millions in unpaid taxes. Â
IRS Commissioner Daniel Werfel said the agency will use Inflation Reduction Act funding to focus on high-income earners, partnerships, large corporations and promoters. He said the IRS won’t increase audit rates for those earning less than $400,000 a year.
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