Gist of IRS eyes millionaire and tax credit scams (USA TODAY, Mon, Sep 12, 2023)
IRS eyes millionaires
IRS Commissioner Danny Werfwl has announced that the IRS is going after 1,600 millionaires at least $250,000. Also, he said 75 of the largest partnerships in the U.S. will be audited.
Who are targeted millionaires?
High-income taxpayers who use foreign bank accounts that are more than $1.4 million to avoid disclosure and related taxes and people inflated refunds based on the Earned Income Tax Credit will be targeted.