The IRS doesn’t have enough money to audit many tax returns of wealthy people.
“The top 1% of households fail to report about 21% of their income.” https://t.co/EiC5XRlE2r
— Binyamin Appelbaum (@BCAppelbaum) March 21, 2021
While the IRS is trending, let me remind you that the agency has failed to collect more than $2.4 billion in unpaid taxes from millionaires.
— Robert Reich (@RBReich) March 17, 2021
They were only able to recoup about 39% of the $4 billion+ super-rich taxpayers owe in unpaid taxes.
Quite literally, tax the rich.
Republicans are attacking Biden's package by screaming about deficits. That's absurd, given their deficit-busting tax cut. But that aside, Dems can counter this by calling for beefed up IRS enforcement to thwart elite tax dodging and capture more revenues:https://t.co/job4vBUw0R
— Greg Sargent (@ThePlumLineGS) March 11, 2021
THREAD: There is some new momentum behind the effort to reverse a decade of IRS budget cuts and invest in tax enforcement to close the “tax gap” – the approximately $600 billion in taxes that are owed but not paid every year. 1/
— Seth Hanlon (@SethHanlon) February 18, 2021
Depending on the outcome of the Georgia senate runoff, Joe Biden may face a political conundrum: How do you raise more money from the wealthy if you can’t raise taxes? One potential answer: Do better on enforcing existing tax laws. https://t.co/UkdInIcc4V
— NYT Politics (@nytpolitics) December 23, 2020
Congress asked the IRS to report on why it audits the poor more than the affluent. Its response is that it doesn’t have enough money and people to audit the wealthy properly. So it’s not going to.https://t.co/QUgjIbz5Ri
— ProPublica (@propublica) December 13, 2020
This map shows who gets audited the most by the IRS.
— ProPublica (@propublica) November 28, 2020
Notice anything?
From 2012 to 2015, the most heavily audited county in the US was an area where more than 1/3 of its mostly black residents are below the poverty line. https://t.co/V9mCgIFthw pic.twitter.com/OxsknV50jG
The 5 counties with the highest audit rates in the United States, according to Tax Notes, are all predominately African-American counties in the South. https://t.co/vZuqDEHwZW pic.twitter.com/qwfIjDcB6b
— New York Times Opinion (@nytopinion) October 10, 2020
The defunding of the IRS—a case of Republican-led defunding of law enforcement—is a serious issue that hurts the people of United States. How the agency has responded to it is certainly ripe for criticism, but the underlying problem is real. https://t.co/p5NIxLx14I
— T.J. Stiles (@TJStiles_Author) October 5, 2020
Sad! 