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IRS launches new effort aimed at high-income non-filers; 125,000 cases focused on high earners, including millionaires, who failed to file tax returns with financial activity topping $100 billion

The IRS is now sending out 125,000 letters out to families that are considered high income earners that have been delinquent in filing their tax returns. The first batch of 25,000 letters will be going out to those families that earn over $1 million per year. If you find yourself in that income category and have not filed any tax returns for the last few years, you may find a CP59 letter from the IRS sitting in your mailbox soon. The next batch of 100,000 letters will be going out soon to families that have made between $400,000 and $1 million who are also non-filers. Some of these families have unfiled tax returns going as far back as 2017. The IRS believes that 100’s of millions of dollars in unpaid taxes are involved in these cases and they are looking to collect.

“At this time of year when millions of hard-working people are doing the right thing paying their taxes, we cannot tolerate those with higher incomes failing to do a basic civic duty of filing a tax return,” said IRS Commissioner Danny Werfel. “The IRS is taking this step to address this most basic form of non compliance, which includes many who are engaged in tax evasion. This is one of the clearest examples of the need to have a properly funded IRS. With the Inflation Reduction Act resources, the agency finally has the funding to identify non-filers, ensure they meet this core civic responsibility, and ultimately help ensure fairness for everyone who plays by the rules.”

What should you do if you receive one of these letters? Take immediate action and don’t just throw it away. Talk to a tax professional so that you can file your back tax returns as quickly as possible and pay your tax liability so that you can stop accruing penalties and interest. In some cases, you may be even owed a refund.
“If someone hasn’t filed a tax return for previous years, this is the time to review their situation and make it right,” Werfel said. “For those who owe, the risk will just grow over time as will the potential for penalties and interest. These non-filers should review information on IRS.gov that can help and consider talking to a trusted tax professional as soon as possible.”
If you choose not to respond to the letter, the IRS is threatening to put liens on your property, freeze your bank accounts, and even go so far as to prosecute you criminally.
-Tasha Preisner

Tasha Preisner is a licensed Enrolled Agent and Quickbooks Advanced Certified ProAdvisor

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