Wealthy taxpayers who learned in recent weeks that their data was stolen in a widespread breach years ago are hesitating to sue the IRS because the damages they’d get in a win are so small.
The IRS sent letters to wealthy taxpayers this month informing them that they were affected by a theft of tax information carried out by a former agency contractor who also took the returns of former President Donald Trump and many high-profile billionaires.
While the letters give taxpayers options to sue, the fact that taxpayers at most can win $1,000 per instance of unauthorized inspection or ...
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.