The IRS is launching an effort to crack down on 1,600 millionaires and 75 large business partnerships that owe hundreds of millions of dollars in past due taxes
How about some billionaires too while we’re at it?
Start with the millionaires to fund investigations into the billionaires!
I’ll believe it when it happens.
Why are all these executive institutions just starting to do things late into 2023? Is this the new presidential strategy, do nothing for majority of your term then do a few things right before election time?
The IRS has been saying for years they in many cases don’t actually have the funding to dedicate to fighting multimillionaires who can afford protracted legal battles to avoid taxes. The IRS was granted a lot more funding as part of the Inflation Reduction Act, which is a direct result of the current administration. The government is big and slow though, things take time.
Just to add on to your answer, it’s a top-down process. The federal government dictates policy, so when organizations like the IRS, FBI, and CIA are empowered and encouraged to do their jobs (via the president’s political agenda), this is what happens.
To add onto this comment: for every additional dollar invested in the IRS generates a $6 return, according to Treasury estimates. The only reason not to fund the IRS is to cripple the government.
Crackdown? More like - finally able to go after tax frauds. They have more than enough money to make sure their accounts are all in order, not gaming the system.
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So the IRS finally ran out of poor people to racket, and now must go for the big cheeses that explicitly paid to reduce their taxable income, well good luck with that
Plans…
