Hi,

With new funding from the Inflation Reduction Act, the IRS has been able to identify 1,600 ultra-wealthy tax cheats who owed more than $250,000 in recognized tax debt each! The agency has now collected $160 million from these tax cheats.1

Now, to protect themselves and their wealthy friends, Wall Street billionaires are using their considerable access and power to threaten IRS funding. And, of course, Republicans are racing to gut the IRS and protect the ultra-wealthy.

This is not surprising. Republicans have pushed for budget cuts to the IRS for decades, shrinking their budget by over 20%.2 The GOP made it a top priority to cut IRS funding right after Democrats passed the Inflation Reduction Act. Without the resources the IRS needs, Republicans' rich friends avoid lengthy and expensive audits.

Sign the petition: Tell Congress to make the ultra-wealthy pay their fair share and fully fund the IRS.

An ugly result of decades of underfunding has been the IRS auditing low-income and Black people at disproportionately high rates. This is in part because it costs more in staff time and resources to audit wealthy taxpayers, whose returns are more complicated than the average filer (and whose lawyers make these audits more challenging).3

As funding discussions persist, protecting and maintaining IRS funding is essential for achieving a fair tax code, actively eliminating anti-Black racism from the implementation of our tax policy, and ensuring the wealthiest tax cheats finally pay their fair share.

Add your name: Tell Congress to make the ultra-wealthy pay their fair share and fully fund the IRS.

Thanks for taking action,

Joey and the team at Demand Progress

Sources:

  1. U.S. Treasury Department, "Remarks by Secretary of the Treasury Janet L. Yellen on 2024 Filing Season Goals, How Inflation Reduction Act is Continuing to Deliver Improvements for Taxpayers," November 7, 2023.
  2. Business Insider, "The IRS could recover $12 for every $1 spent on scrutinizing the ultra-wealthy's taxes," June 19, 2023.
  3. ProPublica, "Where in The U.S. Are You Most Likely to Be Audited by the IRS?" April 1, 2019.

 

PAID FOR BY DEMAND PROGRESS (DemandProgress.org) and not authorized by any candidate or candidate's committee. Contributions are not deductible as charitable contributions for federal income tax purposes. Join our online community on Facebook or Twitter.

You can unsubscribe from this list at any time.