IRS crackdown on wealthy taxpayers brings in $160M in back taxes

GOP will sell this as democrats stealing $160M from honest hard working families. Expect to see them ask for money to stop the senseless over stepping of the government to collect taxes owed.

 

Yah, govt steals more money and gets to waste it.

 

Imagine being opposed to this.

 

Imagine thinking that collecting legally owed money for government services is "stealing."

 

I don’t believe in govt’s ability to use it responsibly.
I’m sure you do.

 

So our goal should be to all commit tax fraud to keep the government from having money?

 

I don’t get excited about the govt taking peoples money.
You did you.
HOA presidents get excited about increasing dues as well.

 

Apparently, you get excited as people commit crime.

 

While I don't think the gov't spends money wisely or efficiently, I also don't like the idea that there are individuals who are not paying what they owe (whether they are philosophically opposed to it or not) while I paid exactly what I should have and well into 6 figures. No more - no less.

 

No, this isn’t akin to raising HOA dues. This is some of your neighbors not paying their HOA dues leaving the burden on you and other homeowners. So the HOA sent a collections agency to get the money owed so you’re not left footing the bill.

 

…all I’m trying to say is there is a certain personality type that feels excitement about enforcing rules and taking peoples money.
I’m not one.

 

Eh. There's a social contract that you're going to pay your legally required taxes if you want to enjoy the benefits of living in this country. I have no problem with people being held accountable to that standard.

 

I’m Not trying to be an ass…
I never said anything to disagree with your post.
I simply said I’m not the type to celebrate the govt getting more money to waste.
I understand why some are trying to take my posts in this direction.

 

Serious question. How much Inflation Reduction Act money was required to execute this crackdown?

$160 million from 100 taxpayers is pocket change for the IRS, it seems like they should already have the auditors available to round this up under their normal operations.

 

Republicans want rich Americans to keep more stolen money to share with Putin.

 

The IRS is, or at least was, understaffed (I don’t know currently after the increase in funding) so your assumption/impression is not correct - though I do agree with the sentiment that we should all expect they would be properly staffed.

As for your primary question, that is hard to say. Yes, $160MM is relatively small dollars and the IRA allocated an additional approximately $4.5B to enforcement per year which would be an astounding terrible ROI. However, where that goes and how much was spent on these tax evaders I don’t have a clue. There are 213 million other returns to review every year across individuals and businesses, plus the backlog, so I’m sure the vast majority was allocated elsewhere.

 

@homer Please see post #5 and change the rating from come on man to best post ever please. LOL