Tax evasion by millionaires and billionaires tops $150 billion a year, says IRS chief

by ClutchReverie

9 comments
  1. >The Treasury Department said last week it estimates greater IRS enforcement will result in an additional $561 billion in tax revenue between 2024 and 2034 — a higher projection than it had initially stated. The IRS says that for every extra dollar spent on enforcement, the agency raises about $6 in revenue.

    Also interesting:

    >Werfel said the agency is using artificial intelligence as part of the program and others to better identify returns most likely to contain evasion or errors. Not only does AI help find evasion, it also helps avoid audits of taxpayers who are following the rules.

  2. And they have been turning a blind eye for how many decades, through how many presidencies?

  3. And they have been turning a blind eye for how many decades, through how many presidencies?

  4. Since when do we blindly trust and publish numbers directly from the IRS? Is this journalism or state propaganda?

  5. I was hoping the article would have said how much tax revenue is collected from this group every year so we could understand this number as a percent of total collections, which I think is a valuable way to put this in context. Is this a large number and shows how much these people are evading taxes, or is this something like 1% or less and, while valuable to collect, does not represent a larger systemic evasion?

  6. How do they know that? If they have the documentation to back that number, they could just hunt down the delinquent and sieze their bank accounts.

    This is a classic example of publishing a big shocking pooma number to justify one’s agenda or existence, hoping no one carefully examines the source. See also “99.7% of campus rape goes unreported.” But if it’s unreported, how do they know?

  7. On top of the massive tax cut they received in 2017 and the tax deductions that already favor them.

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