Saturday, February 24, 2024

The wealthiest Americans are dodging $150 billion in taxes every year, says the IRS

The IRS — starved for cash after years of reduced funding from Congress — has had increasing difficulty putting resources aside to fund its audit divisions. As a result, the audit rate on millionaires fell by more than 70% from 2010 to 2019, according to the U.S. Treasury Department. Likewise, the audit rate on large corporations fell by more than 50% over that same period…

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