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The Internal Revenue Service’s audit rate has been lower this decade than in most taxpayers’ lifetimes, a New York Times analysis shows, and if the Trump administration follows through with plans to cut the agency’s work force, audits will almost certainly become even rarer.
The most recent I.R.S. data shows the audit rate of individual taxpayers has decreased by about two-thirds since 2010. --NYTIMES
In light of this, in little over a year after Biden's focus to crack down on high income tax delinquents and cheats:IRS tops $1 billion in past-due taxes collected from millionaires; compliance efforts continue involving high-wealth groups, corporations, partnerships
WASHINGTON — As part of continuing compliance efforts under the Inflation Reduction Act, the Internal Revenue Service today announced the agency has surpassed the $1 billion mark in collections from high-wealth taxpayers with past-due taxes.
As part of larger efforts taking place, the IRS has stepped up activity specifically on 1,600 individuals whose incomes were more than $1 million per year and who each owed the IRS more than $250,000 in recognized tax debt. Since last fall, this IRS compliance effort has generated more than $1 billion in collections from this group, with work continuing in this area.
Remember when Obama focused on closing tax loop holes in the Bahamas or Cayman Islands?
Republicans poo poo'ed that too.
IRS funding is something the GOP has been cutting since 2010. Is not part revenue, or lack thereof part of the debt problem? Why would anyone jettison the idea of going after those of high income who are cheating the system? Or is that a rhetorical question?
