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The IRS plans to crack down on 1,600 millionaires to collect millions of dollars in back taxes

Discussion in 'Too Hot for Swamp Gas' started by G8tas, Sep 8, 2023.

  1. g8trdoc

    g8trdoc Premium Member

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    Awesome start with Al Sharpton!
     
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  2. WC53

    WC53 GC Hall of Fame

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    Tax code is complex because of lobbyists. Hit the reset and do away with deductions and nonprofits:). They have made strides for some individuals.
    Definitely need more personnel, because all the accountants and lawyers that contest everything to save clients money. The complexity has certainly spawned industries.
    Needing a 3rd party is ridiculous and just turf guarding for industry.

    I remember that 60 minutes piece years back where local drug dealers stole the identities of local police and submitted fractured returns. They wouldn’t even tell the victims where the returns went to. Like much of our infrastructure, antiquated systems trying to keep up. + asshats ;)
     
  3. phatGator

    phatGator GC Hall of Fame

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    One positive note from the OP is that there are only 1600 millionaires who owe back taxes more than $250,000. There are roughly 24 million millionaires in the US, so the overwhelming vast majority of those are paying their taxes. This is good news.
     
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  4. WC53

    WC53 GC Hall of Fame

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    • Informative Informative x 1
    • Come On Man Come On Man x 1