Business
The IRS Plans to Crack Down on 1,600 Millionaires to Collect Millions of Dollars in Back Taxes
Published
2 years agoon
WASHINGTON (AP) — The IRS announced on Friday it is launching an effort to aggressively pursue 1,600 millionaires and 75 large business partnerships that owe hundreds of millions of dollars in past due taxes.
IRS Commissioner Daniel Werfel said that with a boost in federal funding and the help of artificial intelligence tools, the agency has new means of targeting wealthy people who have “cut corners” on their taxes.
“If you pay your taxes on time it should be particularly frustrating when you see that wealthy filers are not,” Werfel told reporters in a call previewing the announcement. He said 1,600 millionaires who owe at least $250,000 each in back taxes and 75 large business partnerships that have assets of roughly $10 billion on average are targeted for the new “compliance efforts.”
Werfel said a massive hiring effort and AI research tools developed by IRS employees and contractors are playing a big role in identifying wealthy tax dodgers. The agency is making an effort to showcase positive results from its burst of new funding under President Joe Biden’s Democratic administration as Republicans in Congress look to claw back some of that money.
“New tools are helping us see patterns and trends that we could not see before, and as a result, we have higher confidence on where to look and find where large partnerships are shielding income,” he said.
In July, IRS leadership said it collected $38 million in delinquent taxes from more than 175 high-income taxpayers in the span of a few months. Now, the agency will scale up that effort, Werfel said.
“The IRS will have dozens of revenue officers focused on these high-end collection cases in fiscal year 2024,” he said.
A team of academic economists and IRS researchers in 2021 found that the top 1% of U.S. income earners fail to report more than 20% of their earnings to the IRS.
The newly announced tax collection effort will begin as soon as October. “We have more hiring to do,” Werfel said. “It’s going to be a very busy fall for us.”
Grover Norquist, who heads the conservative Americans for Tax Reform, said the IRS’ plan to pursue high wealth individuals does not preclude the IRS from eventually pursuing middle-income Americans for audits down the road.
“This power and these resources allow them to go after anyone they want,” he said. “The next step is to go after anyone they wish to target for political purposes.”
Senate Finance Committee Chair Ron Wyden, D-Ore., said the IRS’ new plan is a “big deal” that “represents a fresh approach to taking on sophisticated tax cheats.”
“This action goes to the heart of Democrats’ effort to ensure the wealthiest are paying their fair share,” he said in a statement.
David Williams, at the right-leaning, nonprofit Taxpayers Protection Alliance, said “every business and every person should pay their taxes — full stop.” However, “I just hope this isn’t used as a justification to hire thousands of new agents,” that would audit Americans en masse, he said.
The federal tax collector gained the enhanced ability to identify tax delinquents with resources provided by the Inflation Reduction Act, which Biden signed into law in August of 2022. The agency was in line for an $80 billion infusion under the law, but that money is vulnerable to potential cutbacks by Congress.
House Republicans built a $1.4 billion reduction to the IRS into the debt ceiling and budget cuts package passed by Congress this summer. The White House said the debt deal also has a separate agreement to take $20 billion from the IRS over the next two years and divert that money to other non-defense programs.
With the threat of a government shutdown looming in a dispute over spending levels, there is the potential for additional cuts to the agency.
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Business
2026 PGA Show Takes Over Orange County Convention Center
Published
3 weeks agoon
January 23, 2026By
Willie DavidORLANDO, Fla. (FNN SPORTS) — Florida National News is on site all week covering the 2026 PGA Show as it takes over the Orange County Convention Center, transforming Orlando into the global epicenter of the golf industry.
The annual event draws thousands of industry professionals, athletes, media, and golf enthusiasts from around the world to preview the latest innovations shaping the future of the sport.
Global Golf Industry Converges in Orlando
The PGA Show brings together exhibitors and attendees from across the globe, showcasing cutting-edge golf equipment, apparel, technology, and services. From club manufacturers and gear designers to course operators and teaching professionals, the show serves as a central meeting point for every sector of the golf world.
Attetion, Technology, and Interactive Experiences
This year’s PGA Show features immersive activations, including state-of-the-art golf simulators, interactive training tools, and expanded indoor and outdoor driving range experiences. Technology continues to play a major role, with advancements in swing analytics, performance tracking, and course management on full display.
The show floor also highlights sustainability efforts and innovations aimed at growing the game for future generations.
Florida National News Provides Front-Row Coverage
Florida National News will deliver comprehensive coverage throughout the week, offering exclusive behind-the-scenes access, exhibitor highlights, and firsthand looks at the products and experiences defining the next era of golf.
Readers can follow along for daily updates, photos, and feature stories straight from the heart of the PGA Show
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– Todd Grasley and J Willie David, III contribute to this report.
News@FloridaNationalNews.com
Business
2025 Don Quijote Awards Program: A Keepsake for Event Attendees
Published
2 months agoon
December 22, 2025By
Willie DavidORLANDO, Fla. (FNN) – Inside the official event program booklet, attendees will find the powerful presence of premier media partner Florida National News, whose coverage team of reporters, photographers, videographers and social media journalists captures the very best of the annual awards gala.
From high-fashion red carpet arrivals and VIP guests to cocktail networking, exquisite dining, live musical performances, dynamic emcees, presenters, sponsors, finalists, honorees and winners—Florida National News amplifies every unforgettable moment of the prestigious 2025 Don Quijote Awards Gala.
Hosted by the Hispanic Chamber of Metro Orlando and Prospera, and powered by Diamond Sponsor Disney along with numerous supporting sponsors, the gala takes place at EPCOT’s World ShowPlace Pavilion. Through comprehensive, high-impact coverage, Florida National News elevates the awards gala experience—before, during and long after the final applause.
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J Willie David, III and Jenny Rosario | Corporate Partners and Events | Florida National News
– News@FloridaNationalNews.com
Business
Hispanic Chamber and Prospera Honor Business and Community Leaders at 28th Don Quijote Awards Gala
Published
2 months agoon
December 20, 2025By
Willie DavidORLANDO, Fla. (FNN) — The Hispanic Chamber of Metro Orlando and Prospera co-hosted the 28th annual Don Quijote Awards Gala on Dec. 13, 2025, at EPCOT’s World Showplace Pavilion, bringing together business, civic, and community leaders from across Central Florida to celebrate outstanding Hispanic entrepreneurs and professionals.
Presented with the support of major sponsors including Walt Disney World Resort, Duke Energy, Orlando Health, Wells Fargo, and others, the prestigious gala honored individuals whose leadership, perseverance, and vision continue to drive economic growth and community impact throughout the region. Florida National News captured highlights from the landmark celebration.
“Walt Disney World is a strong supporter of Central Florida’s entrepreneurial spirit, and we do business with over 2,300 small businesses across the region, many of which are proud members of the Hispanic Chamber of Metro Orlando and clients of Prospera,” said Jose L. Gonzalez, director of government and industry relations for Walt Disney Parks & Resorts. “The Don Quijote Awards represent the best of our community, and supporting this event is a priority for Walt Disney World.”
Celebrating Leadership and Entrepreneurial Excellence
For 28 consecutive years, the Hispanic Chamber of Metro Orlando and Prospera have partnered to spotlight exceptional entrepreneurial journeys through the Don Quijote Awards. Current board chairs Oscar Cristancho of the Hispanic Chamber and Adly Santiago of Prospera Central and Northeast Florida joined the celebration to recognize leaders who exemplify resilience and achievement within the Hispanic business community.
The evening was hosted by two distinguished masters of ceremony: Univision Emmy and Telly Award–winning journalist and meteorologist Jennifer Chang, alongside Univision Contigo host and longtime Sábado Gigante co-host Javier Romero.
Juan Amo, senior vice president and market executive at Bank of America, served as the 28th Event Chair and led the Don Quijote Awards Selection Committee.
“As this year’s chair, I had the privilege of witnessing firsthand the passion and perseverance behind these awards,” Amo said. “Our finalists exemplify courage, integrity, and a deep commitment to lifting others along the way. Their journeys strengthen our economy and reflect the values that define the Hispanic experience.”
2025 Don Quijote Award Recipients
The recipients of the 28th Don Quijote Awards are:
Hispanic Micro-Enterprise of the Year: Graceful Paws Pet Clinic, represented by owner Dr. Lynette Reyes
Hispanic Enterprise of the Year: Angels For Kids and Families, represented by owners Elizabeth and John Valencia
Professional of the Year: Rafael Caamaño, director of UCF Innovation Districts and Business Incubation Program, University of Central Florida
Excellence Award: Carlos Torres, chief deputy, Orange County Sheriff’s Office
Hispanic Community Champion Award: Jennifer Evins, president and CEO, United Arts of Central Florida
Lifetime Achievement Award: Ramon Ojeda
Legacy in Motion: Building the Future Together
Reflecting the theme “Legacy in Motion: Weaving Through the Future of Tomorrow,” the gala celebrated trailblazers whose leadership laid strong foundations that continue to uplift the Hispanic community today. Ten honorees were selected from more than 100 leaders, and the program included a special recognition honoring the legacy of Roberto Clemente, represented by the Roberto Clemente Foundation.
“Every person in this room represents a vital thread in the fabric we are building together,” said Pedro Turushina, president and CEO of the Hispanic Chamber of Metro Orlando. “Through leadership, service, and partnership, we are shaping a stronger Hispanic business community in Central Florida and beyond.”
Prospera Regional Vice President Katia Medina highlighted the organization’s milestone year, noting that the gala coincides with Prospera’s 30th anniversary in Central Florida.
“Our community’s spirit of entrepreneurship and innovation is vibrant and enduring,” Medina said. “We proudly carry forward the legacy planted by the pioneers who helped shape our path.”
Prospera President and CEO Augusto Sanabria added, “Their leadership laid the groundwork for the mission we continue today. Together, we are building a legacy that will benefit future generations.”
Guests enjoyed a culinary experience curated by renowned Disney Chef Luis Ruiz Guerra and the Disney Culinary team, followed by live Latin music from the band Caliente, which energized the dance floor late into the evening.
The gala was made possible through the generous support of sponsors including Walt Disney World Resort, Duke Energy, Orlando Health, Wells Fargo, AdventHealth, Bank of America, Seminole Hard Rock Hotel & Casino Tampa, Travel + Leisure, Universal Destinations and Experiences, Florida Blue, OUC – The Reliable One, JCQ Services, JPMorgan Chase, and Sky Builders USA. Premier media partners included El Osceola Star, iHeartMedia, La Prensa, Telemundo, Univision, Florida National News, Communicate 360, and RTW Photography.