- ORIGINAL NEWS
IRS targets wealthy ‘non-filers’ with new wave of compliance letters
- SUMMARY
The IRS is sending letters to wealthy individuals who have not filed tax returns since 2017.
The letters target those earning between $400,000 and $1 million and will continue with higher income earners.
The IRS emphasizes the importance of filing past-due returns and warns of penalties for non-filers, including monthly fines and interest charges.
If you have not filed your taxes, the agency recommends contacting a tax professional to assist with calculations and filing.
This initiative aims to collect potentially substantial unpaid taxes from high-income individuals who have failed to file.
- NEWS SENTIMENT CHECK
- Overall sentiment:
neutral
Positive
“The IRS has unveiled plans to target ‘non-filers’ with a new round of letters, starting with high-income taxpayers who haven’t filed federal returns since 2017.”
Negative
“Non-filers making between $400,000 and more than $1 million with unfiled federal returns from tax years 2017 to 2021 will receive the initial round of letters.”
“The agency urges recipients to take ‘immediate action’ to avoid more letters, higher penalties and ‘stronger enforcement measures.'”