The Internal Revenue Service is failing to crack down on hundreds of thousands of high-income people who owe billions of dollars in taxes, according to a new report by the agency’s government watchdog.The Treasury Inspector General for Tax Administration identified almost 880,000 individuals making $100,000 a year or more who didn’t file tax returns from 2014 to 2016. Collectively, those “nonfilers” owed an estimated $45.7 billion in taxes.An estimated 1,891 nonfilers owed more than $1 million apiece, or about $13.5 billion collectively. The top 100 nonfilers owed an estimated $9.9 billion in total.The inspector general’s audit found that the IRS …read more
Source:: Yahoo Finance
