The IRS announced Friday that it has recovered some $1.3 billion from wealthy people by increasing its tax enforcement.

Two years ago, Democrats passed the Inflation Reduction Act, which turbocharged the IRS with funding that was supposed to give the agency more resources to audit high-income earners and identify tax cheats. Now, the tax collecting agency says those efforts are bearing fruit.

Recommended Stories

Treasury official warns of $7 trillion tax gap over next decade in pitch for more IRS funding

Biden IRS announces crackdown on complex partnerships, says it will raise $50 billion

New IRS funding from Democratic law will boost revenue by $561 billion, Treasury says