More than $482 million recovered from 1,600 millionaires who have not paid tax debts
IRS ramps up new initiatives using Inflation Reduction Act funding to ensure complex partnerships, large corporations pay taxes owed, continues to close millionaire tax debt cases.
More than $482 million recovered from 1,600 millionaires who have not paid tax debts

WASHINGTON — The Internal Revenue Service announce continued progress to expand enforcement efforts related to high-income individuals, large corporations and complex partnerships as part of wider efforts to transform the agency.

IRS Commissioner Danny Werfel noted Inflation Reduction Act resources continue to help in a variety of areas. In addition to earlier announcements focusing on further improving taxpayer service during the upcoming 2024 filing season, the IRS has focused IRA resources on strengthening enforcement to pursue complex partnerships, large corporations and high-income, high-wealth individuals who do not pay overdue tax bills.

The IRS shared today progress in its focus on people using partnerships to avoid paying self-employment taxes as well as new details on current enforcement priorities. The IRS is also continuing to pursue millionaires that have not paid hundreds of millions of dollars in tax debt, with an additional $360 million collected on top of the $122 million reported in late October. The IRS has now collected $482 million in ongoing efforts to recoup taxes owed by 1,600 millionaires with work continuing in this area.

“The IRS continues to increase scrutiny on high-income taxpayers as we work to reverse the historic low audit rates and limited focus that the wealthiest individuals and organizations faced in the years that predated the Inflation Reduction Act. We are adding staff and technology to ensure that the taxpayers with the highest income, including partnerships, large corporations and millionaires and billionaires, pay what is legally owed under federal law,” Werfel said. “At the same time, we are focused on improving our taxpayer service for hard-working taxpayers, offering them more in-person and online resources as part of our effort to deliver another successful tax season in 2024. The additional resources the IRS has received is making a difference for taxpayers, and we plan to build on these improvements in the months ahead.”

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Dirty Dozen: IRS Reminds Taxpayers Of Inaccurate Information Circulating On Social Media

Dirty Dozen: Taking tax advice on social media can be bad news for taxpayers; schemes circulating involving tax forms.

WASHINGTON — The Internal Revenue Service continued the Dirty Dozen series with a warning on day seven about trusting tax advice on social media that can lure otherwise honest taxpayers and tax professionals into compromising tax situations.

Social media can circulate inaccurate or misleading tax information, and the IRS has recently seen several examples. These can involve common tax documents like Form W-2 or more obscure ones, like Form 8944 that’s aimed at a very limited, specialized group. Both schemes encourage people to submit false, inaccurate information in hopes of getting a refund.

“There are many ways to get good tax information, including from a trusted tax professional, tax software and IRS.gov. But people should be incredibly wary about following advice being shared on social media,” said IRS Commissioner Danny Werfel. “The IRS continues to see a lot of inaccurate information that could get well-meaning taxpayers in trouble. People should remember that there is no secret way to fill out a form and simply get a larger refund that they aren’t entitled to. Remember, if it sounds too good to be true, it probably is.”

Fraudulent form filing and bad advice on social media are part of the 2023 IRS annual Dirty Dozen campaign – a list of 12 scams and schemes that put taxpayers and the tax professional community at risk of losing money, personal information, data and more.

Working together as the Security Summit, the IRS, state tax agencies and the nation’s tax industry have taken numerous steps since 2015 to warn people about common scams and schemes during tax season and beyond, including identity theft schemes. The Security Summit initiative is committed to protecting taxpayers, businesses and the tax system against fraud and identity theft.
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IRS Helps Employers Wanting To Rehire Retirees Or Retain Employees After Retirement Age

To help address COVID-related labor shortages, the Internal Revenue Service today reminded employers that they generally will not jeopardize the tax status of their pension plans if they rehire retirees or permit distributions of retirement benefits to current employees who have reached age 59 ½ or the plan’s normal retirement age.

With the COVID-19 pandemic, many employers, including governmental employers (such as public school districts), are looking for ways to encourage retirees to return to the workforce to fill open positions and experienced employees to stay on the job.

The IRS is providing help to these employers in two new frequently asked questions (FAQs), designed to offer technical guidance to public and private employers who sponsor pension plans for their employees. The FAQs highlight existing ways that employers can meet their employment objectives and still comply with the plan qualification rules.

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IRS News

Internal Revenue Service Security Summit partners called on tax professionals to increase efforts to inform clients about the Identity Protection PIN Opt-In Program that can protect against tax-related identity theft.

The IRS, state tax agencies and the nation’s tax industry – working together as the Security Summit  – need assistance from tax professionals to spread the word to clients that the IP PIN is now available to anyone who can verify their identity.

Sharing information about the IP PIN Opt-In Program is the second in a five-part weekly series sponsored by the Summit partners to highlight critical steps tax professionals can take to protect client data. This year’s theme “Boost Security Immunity: Fight Against Identity Theft” is an effort to urge tax professionals to intensify efforts to secure their systems and protect client data during this pandemic and its aftermath.

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IRS Newsroom

IRS Criminal Investigation Marks International Fraud Awareness Week Highlighting Successes From FY20 (This was previously posted by the IRS Highlighting Fraud Awareness Week In December)

A Message from James C. Lee, Chief Criminal Investigation

This week we recognize International Fraud Awareness Week by highlighting our many successes in combating fraud and protecting taxpayers. Earlier this week, I had the pleasure of publishing our FY 2020 Annual report which focuses on business results and successes from the previous fiscal year.  This year was different as half of the year was spent under the new realities that COVID-19 has brought us.  Court appearances were virtual and significantly delayed as judicial districts around the country came up with creative ways to be safe and keep the work moving.  Interviewing taxpayers took on new challenges with PPE while search warrants also brought about a new list of precautions, we must take to protect all involved.
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