![Tax Return form 1040 with USA America flag and dollar banknote, U.S. Individual Income.](https://assets3.cbsnewsstatic.com/hub/i/r/2023/02/11/d416c496-a161-4723-a69b-d98a78eec84e/thumbnail/640x360/5aa0ae0bea358d7457bb0479024ba9c1/gettyimages-1409509746.jpg?v=5501038cbc281520ff9fdc308faab7dc#)
Americans failed to pay a record $688 billion in 2021, IRS says
Americans owe the IRS $688 billion in unpaid taxes, underscoring need for more audits, said IRS Commissioner.
Watch CBS News
Aimee Picchi is associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has been published by national news outlets including USA Today and Consumer Reports. Aimee frequently writes about retirement, and has been a National Press Foundation fellow for reporting on retirement and Columbia University's Age Boom Academy. She's also the editor of the Institutional Investor book "Cultivating the Affluent II," with noted wealth consultant Russ Alan Prince.
Americans owe the IRS $688 billion in unpaid taxes, underscoring need for more audits, said IRS Commissioner.
Digital World Acquisition Corp. said it's still planning to merge with Trump's media group, which runs Truth Social.
A top law firm rescinded its employment offer after a New York University student wrote that Israel "bears full responsibility" for the Hamas attacks.
With Social Security's annual cost-of-living adjustment less than half of the 2023 boost, seniors are at risk of losing ground, experts say.
Some brunch spots with bottomless mimosas are tacking on extra cleaning fees for patrons who get sick in their establishments.
Proposed federal rule would ban hidden consumer fees for services including apartment rentals, hotel rooms and more.
Many Americans are sour about the economy as median household incomes took a hit in one-third of U.S. states, while stagnating elsewhere.
The USPS wants to boost first-class postage rates to 68 cents in January, following a rate increase in July. Critics say it's driving customers away.
Mike Lindell said he can't afford to pay $2 million a month to his attorneys in election-related cases. "I have $10,000 to my name," he said.
Associate degree programs can lead to six-figure incomes — more than the typical income of a grad with a four-year bachelor's degree.
Women still lag men in corporate leadership roles. But the roadblocks start early in their careers, McKinsey and Lean In found in a new report.
As student loan repayments restart in October, the Biden administration said 125,000 people with student loans will have their debt erased.
Student loan borrowers facing problems with their servicer shouldn't have to repay their debt until the issues are resolved, 19 state attorneys general say.
Former President Donald Trump is no longer wealthy enough to be included in the Forbes 400, an annual list of the wealthiest Americans.
Michael Jordan is one of only three professional athletes who are also billionaires, along with LeBron James and Tiger Woods.