The IRS says its 87,000 new hires could help collect as much as $1 trillion — by forcing tax cheats...

Published on 25 Nov 2022 on MoneyWise via Yahoo Finance

The IRS says its 87,000 new hires could help collect as much as $1 trillion — by forcing tax cheats...

Get ready, ultra-wealthy Americans: President Joe Biden wants you to start paying your share.

Through the Inflation Reduction Act, Biden plans to increase funding for the IRS to help the agency catch sneaky tax evaders — especially those high-earners who love to find loopholes around the law.

A Treasury Department report from May 2021 estimates the extra money would allow the agency to hire around 87,000 new employees — which could include revenue agents and customer service and IT staff — by 2031.

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The IRS says its 87,000 new hires could help collect as much as $1 trillion — by forcing tax cheats...

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