YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Americans failed to pay $688 billion in taxes on their 2021 returns, a record level, according to a new estimate from the IRS. The agency said that it is taking "urgent" steps to increase compliance such as auditing more high-income taxpayers as well as businesses and partnerships.
The number reflects an increase of more than $138 billion from estimates for tax years 2017 to 2019, the agency said.
The IRS is ratcheting up audits on wealthy taxpayers, part of its directive after receiving billions in new funding through the Inflation Reduction Act.
Read more from CBS News.
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