IRS Watchdog: High-Income Filers Skipping Taxes
GOVERNMENT WATCHDOG: IRS FAILED TO GO AFTER HUNDREDS OF THOUSANDS OF HIGH INCOME INDIVIDUALS WHO DIDN'T PAY TAXES
(CNN) – A government watchdog says the IRS failed to go after hundreds of thousands of high-income individuals who didn’t pay their taxes.
That’s according to Bloomberg news, citing a report by the Treasury Inspector General for Tax Administration.
The report identified more than 879,000 high-income individuals who didn’t file returns.
Altogether, they failed to pay upwards of $45-billion in taxes from 2014 to 2016.
The report also found the IRS failed to put more than 326,000 of the cases into its enforcement system.
The agency closed more than 42,000 cases without ever working on them.
The remainder of cases will also not likely be pursued, due to decreased enforcement efforts amid budget cuts.
High income taxpayers are defined in the report as those earning at least a $100,000.