this post was submitted on 09 Sep 2023
857 points (98.4% liked)

News

23014 readers
5 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago
MODERATORS
 

IRS Commissioner Daniel Werfel said that with a boost in federal funding and the help of artificial intelligence tools, the agency has new means of targeting wealthy people who have “cut corners” on their taxes.

“If you pay your taxes on time it should be particularly frustrating when you see that wealthy filers are not,” Werfel told reporters in a call previewing the announcement. He said 1,600 millionaires who owe at least $250,000 each in back taxes and 75 large business partnerships that have assets of roughly $10 billion on average are targeted for the new “compliance efforts.”

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 38 points 1 year ago (3 children)

why exactly isn't it normal to get taxes from the rich?

[–] [email protected] 30 points 1 year ago

I heard an interview about this new effort. IRS agents used to be rewarded by case count. It's much easier to audit people who earn salaries because you know exactly what they earned from employers' reports. Rich people often have many sources of income that take time to investigate. Agents audit normal folks because it's easy while the rich lie and get away with it.

The goal with this effort has been to change the incentive structure for agents to get the most money.

[–] [email protected] 16 points 1 year ago (1 children)

The more money a person makes, the more incentive and capability they have to design and structure their income, especially if they are a business owner or have customers overseas, and thus they have more opportunities to avoid doing the things that cause one to be taxed.

Also some are cheaters and just don't pay what they owe.

[–] [email protected] 7 points 1 year ago (1 children)

It also takes longer to audit people who are trying to screw with the system so it's sometimes just "Eh too hard" which is a bad reason to not do it...

[–] [email protected] 6 points 1 year ago

Especially if it's going to be a small ROI for the IRS.

I know in tax planning for high net worth individuals and businesses there is often a question about how the penalty (downside of being found to owe more tax) relates to the upside of just not paying the tax. For matters that aren't so clear or where the tax code can be interpreted many ways - it often comes down to the decision maker's risk tolerance.

So it's smart for the IRS to avoid cases where a hundred hour audit gets them another $2k vs litigating a $20m underpayment over a grey area.