The IRS has announced a new effort to aggressively pursue 1,600 millionaires and 75 large business partnerships that owe hundreds of millions of dollars in past due taxes. With increased funding and the use of artificial intelligence tools, the agency aims to target wealthy individuals who have evaded their tax obligations. IRS Commissioner Daniel Werfel highlighted the frustration of law-abiding taxpayers and emphasized the importance of holding wealthy filers accountable.
The IRS plans to use a combination of a massive hiring effort and AI research tools to identify tax delinquents. The initiative comes as Republicans in Congress seek to cut back on funding for the agency. The IRS gained enhanced abilities to identify tax evaders through resources provided by the Inflation Reduction Act signed by President Biden. The agency’s tax collection efforts will commence in October, and they anticipate a busy fall ahead.