The IRS is tackling fraud and abuse in the ERC tax credit, which expired in 2021 due to claims boom. The credit has cost taxpayers $230 billion, triple earlier estimates.

The IRS has detailed tax dodging by the ultra-wealthy and says it recently squeezed 100 millionaires for $122 million in missing taxes, per BI.

— Win Smart, CFA (@WinfieldSmart) October 25, 2023