Treasury, IRS announce ‘major milestone’ of $1 billion in past-due taxes collected from millionaires

The U.S. Department of the Treasury and the IRS on Thursday announced what they called a “major milestone” of collecting more than $1 billion in tax debt from high-income individuals over the past year.

With tens of billions in new funding, the IRS announced plans in September to expand its scrutiny of those making above $1 million annually with more than $250,000 in recognized tax debt.