Due to the Inflation Reduction Act, within the first six months of two new initiatives focusing on high-income taxpayers, the IRS has been paid over $1.1 billion from these high earners.
In addition to the initiatives concentrated on collecting the tax due from wealthy taxpayers, the IRS propounded the Digital First Initiative. Through this new program, they are dedicated to improving the tools utilized by taxpayers. Individuals can now access and view the status of their refunds, account information, identity protection services, digital copies of notices, and more! The advancement of these tools also led the way to improving the existing technology utilized by the IRS.
To read further about how the IRS has utilized the funds from the Inflation Reduction Act, click here.
