IRS targets 1,600 millionaires who owe at least $250,000

2025-04-20 07:27:27 source: category:Markets

IRS Commissioner Danny Werfel announced Friday that the IRS is going after 1,600 millionaires who owe at least $250,000 each and collectively owe hundreds of millions of dollars, as part of an expanded push to make sure that wealthy taxpayers pay what they owe.

Also on the IRS radar: Large partnerships; construction firms issuing sketchy paperwork to "shell" companies that kick back the money to the original contractor, schemes already spotted in Texas and Florida; and wealthy individuals who are not reporting and paying taxes associated with money held in foreign bank accounts.

More:Markets

Recommend

Olympic men's basketball bracket: Results of the 5x5 tournament

Since men's basketball became an Olympic sport in 1936, the United States has dominated the rest of

Detroit judge sidelined for making sleepy teen wear jail clothes on court field trip

DETROIT (AP) — A Detroit judge who ordered a teenager into jail clothes and handcuffs on a field tri

Remembering Wally Amos: Famous Amos cookies founder dies at 88

Wallace "Wally" Amos, Jr., the founder of Famous Amos cookies, died at 88 on Wednesday in Hawaii, ac