"IRS Cracks Down on Rich Tax Cheats Amid Funding Threats, Collects $360 Million More"
The IRS has collected an additional $360 million in overdue taxes from delinquent millionaires, bringing the total recouped from rich tax cheats to nearly half a billion dollars, as the agency faces threats of funding cuts. The funding cuts, part of the overall spending package for the current fiscal year, could impact the agency's efforts in the later years, according to IRS Commissioner Daniel Werfel. The agency has used a portion of the Inflation Reduction Act funding to modernize and enhance its tax collection efforts, with the 2024 tax season set to begin on Jan. 29.