"IRS Recovers $520 Million in Back Taxes from Delinquent Millionaires"
The IRS has collected over $520 million in back taxes from delinquent millionaires and large corporations, attributing its success to the Inflation Reduction Act, which allocated $80 billion over 10 years to enhance enforcement capabilities. The agency has focused on high-income taxpayers, including those with more than $1 million in income and more than $250,000 in tax debt, as well as large corporate partnerships with compliance risks. This initiative, supported by the Biden administration, aims to ensure that the wealthiest individuals and organizations pay what is legally owed under federal law.