IRS Issues Another Tax Warning for Wealthy, High Earners

Wealthy non-filers could pay more tax than they owe if the IRS files for them.

Years from 2017 to 2023 written on wood blocks sitting on wood surface in front of a defocused background
(Image credit: Getty Images)

It’s not only millionaires that the IRS has its sights set on this tax season. If you make at least $400,000 — and haven’t filed federal tax returns — you may receive a compliance letter from the agency. This new initiative focused on wealthy non-filers is part of the IRS’ ongoing efforts to improve tax enforcement for millionaires and other high earners and ensure fairness in the federal tax system.

“If someone hasn’t filed a tax return for previous years, this is the time to review their situation and make it right,” IRS Commissioner Danny Werfel said.

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Katelyn Washington
Tax Writer

Katelyn has more than 6 years’ experience working in tax and finance. While she specializes in tax content, Katelyn has also written for digital publications on topics including insurance, retirement and financial planning and has had financial advice commissioned by national print publications. She believes that knowledge is the key to success and enjoys helping others reach their goals by providing content that educates and informs.