TLDR:
- IRS recouped $4.7B from unpaid taxes and criminal proceeds after Inflation Reduction Act boost.
- $1.3B from overdue taxes by wealthy individuals.
- $2.9B from criminal cases targeting drug traffickers, cybercriminals, and terrorist financiers.
- $475M from whistleblower tips on hidden income and tax fraud.
- $292M from 28,000 high earners who hadn’t filed since 2017.
- IRS-Criminal Investigation uncovered $9.1B in fraud, seized $1.2B in assets.
- 90% conviction rate, making tax dodgers more cautious.
- GOP wants to cut IRS funding, with plans to replace IRS Commissioner with Billy Long.
🚨🇺🇸 IRS RECOUPS $4.7B BUT FACES GOP AXE
The IRS just announced it’s raked in $4.7 billion in unpaid taxes and criminal proceeds, thanks to the $80 billion boost it got from the Inflation Reduction Act.
Here’s how the haul breaks down:
– $1.3 billion from wealthy folks who… https://t.co/L6NzO5gvu6 pic.twitter.com/XUxx0tuoWE
— Mario Nawfal (@MarioNawfal) December 13, 2024
The IRS is collecting billions, exposing criminals, and catching the wealthy skimping on taxes—yet Republicans want to cut its funding and install an auctioneer as the new commissioner. Let that sink in.