WASHINGTON – The United States Internal Revenue Service (IRS) announced on Friday an aggressive campaign by the White House against the rich to put pressure on 1,600 millionaires and 75 large corporations who owe hundreds of millions of dollars in back taxes.
However, the White House’s goal is to maintain the plan of enormous spending generated by its policy of subsidizing governments and foreign organizations, and in particular to request more funding for the war in Ukraine, which has already amounted to more than 150,000 million US dollars of public funds amount to expenditure.
Now the IRS’s hunt for the rich It’s also thanks to the funding the White House gave the company to hire tens of thousands of new employees using American taxpayers’ money.
IRS Commissioner Daniel Werfel said that with increased federal funding and the help of artificial intelligence tools, the agency now has the means to “go after wealthy people who have evaded taxes.”
“It is particularly frustrating for those who pay their taxes on time to see that wealthy taxpayers do not,” Werfel said in a press call announcing the plan. He revealed that 1,600 millionaires, each owing at least $250,000 in back taxes, and 75 large corporations with assets averaging $10 billion are the targets of the new “compliance campaign.”
Werfel explained that recruiting new personnel and AI tools developed by IRS employees and contractors play a large role in identification to rich fraudsters. The agency is scrambling to demonstrate the positive results of President Joe Biden’s Democratic administration’s cash infusion even as Republican lawmakers seek to take away some of that money. That is, Werfel’s hunt is to justify the funds Biden gave to the IRS and use whatever they can collect in taxes for partisan purposes, particularly to fund the policies of the far left.
“The new tools help us discover patterns and trends that we haven’t seen before, and the result is that we can search and find out where big companies are hiding revenue with greater confidence,” he said.
A team of academic economists and IRS researchers found in 2021 that the top 1% of workers do not disclose more than 20% of their income to the IRS.
The new tax collection campaign could begin as early as October.
“We need to hire more staff,” said Werfel. “We have a very busy fall ahead of us.”