 | Presented by |  | | | | Despite the feeling that workers were gaining more power in 2021, a new report shows that the income gap between CEOs and the average worker has gotten even wider. At the 300 publicly held U.S. corporations with the lowest median wages, the gap between what CEOs earn and the median worker pay grew to a ratio of 670-to-1, according to a new report from the Institute for Policy Studies—up from 604-to-1 in 2020. At more than a third of those firms, median worker pay didn’t even keep up with the 4.7% average inflation rate in 2021. “A lot of workers at these companies, in other words, lost ground, while CEO pay went through the roof,” one researcher said. Read more about the report, and what can be done to rein in the CEO-to-worker pay gap, here. —Kristin Toussaint, @kristindakota | | | | | |
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| NEWS | The tax man cometh: What you need to know |  | After several years of taking a relatively lax approach to auditing wealthy taxpayers, the Internal Revenue Service (IRS) has evidently turned a new leaf. | |  | The agency is stepping up enforcement, and has doubled audit rates for income categories above $100,000 over the past seven months. | |  | That news comes directly from an IRS statement released in late May, which details that for the 2019 tax year, audit rates have seen a significant jump. In short, the more money you make, the more the IRS may be interested in auditing you—especially if you’re earning six figures. | |  | Some perspective is critical, however: Though the IRS does seem to be increasing audit rates, those rates are still down significantly over the past decade or so. | | Check out the latest news stories here. | | | | | | |