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IRS expects to collect hundreds of billions more in overdue and unpaid taxes thanks to new funding – Associated Press

IRS expects to collect hundreds of billions more in overdue and unpaid taxes thanks to new funding – Associated Press
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United statesJoe bidenJason smithGreg leisersonJanet yellenCongressional budget officeTreasury departmentMeans committeeNational economic adviser lael brainardDemocrat inflation reduction actPresident joe bidenPresident bidenEconomic adviser lael brainardInflation reduction actHouse republicansHouse ways

IRS report: Tax revenues rise up to $561 billion by 2034 on increased crackdown on wealthy tax dodging

The tax gap the difference between taxes owed and paid has grown to over $600 billion annually, according to the IRS.

United statesGreg leisersonJason smithJoe bidenJanet yellenMeans committeeNational economic adviser lael brainardCongressional budget officeDemocrat inflation reduction actPresident joe bidenPresident bidenEconomic adviser lael brainardInflation reduction actHouse republicansHouse waysTreasury secretary janet yellen

IRS to collect $561 billion in past-due taxes

Thanks to a round of new funding under the Biden administration, the IRS plans to step up enforcement on overdue and unpaid taxes this year.

United statesJason smithJoe bidenJanet yellenGreg leisersonCongressional budget officeMeans committeeTreasury departmentNational economic adviser lael brainardInflation reduction actDemocrat inflation reduction actPresident joe bidenPresident bidenEconomic adviser lael brainardHouse republicansHouse ways

IRS Expects To Collect Hundreds Of Billions More In Overdue And Unpaid Taxes Thanks To New Funding – 710am KURV

IRS Expects To Collect Hundreds Of Billions More In Overdue And Unpaid Taxes Thanks To New Funding – 710am KURV
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United statesJoe bidenJason smithJanet yellenGreg leisersonNational economic adviser lael brainardAssociated pressMeans committeeCongressional budget officeTreasury departmentDemocrat inflation reduction actPresident joe bidenPresident bidenEconomic adviser lael brainardInflation reduction actHouse republicans

IRS expects to collect hundreds of billions more in overdue, unpaid taxes

Tax revenues are expected to rise thanks to stepped-up enforcement made possible with money from the Democrats’ Inflation Reduction Act, which became law in August 2022.

United statesJason smithJoe bidenJanet yellenGreg leisersonNational economic adviser lael brainardCongressional budget officeTreasury departmentMeans committeeDemocrat inflation reduction actPresident joe bidenPresident bidenEconomic adviser lael brainardInflation reduction actHouse republicansHouse ways