IRS launches crackdown on rich tax evaders

The IRS announced that it has launched a crackdown on 125,000 wealthy "non-filers"—rich people who aren't paying taxes. Hundreds of millions are owed and everyone who does pay is getting cheated by them.

Beginning this week, the IRS will start sending out noncompliance letters to more than 25,000 people who earn more than $1 million per year and 100,000 people with incomes between $400,000 and $1 million who failed to pay their taxes between 2017 and 2021.

The campaign announced Thursday is part of the agency's ongoing effort to pursue high wealth tax cheats — mandated in part by funding provided through Democrats' Inflation Reduction Act passed into law in 2022 and a directive from Treasury Secretary Janet Yellen to IRS leadership not to increase audit rates on people making less than $400,000 a year annually.

IRS Commissioner Daniel Werfel:

"When people don't file a tax return they're required to, it's not fair to those hardworking taxpayers who responsibly do their civic duty under the laws of our nation. And when people don't file their taxes, they need to know there's a consequence."

The agency was starved of funding under Trump, for obvious reasons.

Previously: IRS: Microsoft owes $28.9 billion in back taxes