Summary
Mass firings at the IRS under the Trump administration threaten ongoing audits of wealthy individuals and corporations, potentially leading to millions in lost tax revenue.
The cuts primarily impacted employees in the Large Business & International Division, many of whom had extensive tax expertise.
With fewer agents and specialists, complex cases may be prematurely closed, undermining enforcement against high-end tax evasion.
Critics warn this weakens IRS oversight and emboldens tax avoidance among the ultrawealthy.
Friendly reminder that Joe Biden increased resources to the IRS and they recouped billions from wealthy tax cheats.
But he was too old, so we went with an old rapist felon traitor instead.
Gee, that almost sounds like it was intentional.
The only thing that’s incorrect about this article is that they talk about millions in lost revenue, when the effect will certainly be in the billion if not trillion dollar range.
Not even subtle about it any more.
They weren’t subtle to begin with.
Why wouldn’t they retaliate by specifically prioritizing the wealthy?
If they’re crunched on time wouldn’t they focus on the highest value accounts?
TLDR: They are prioritizing the wealthy. They simply can’t afford to audit them without staff and funds to do so. They only audit if doing so is profitable for the government.
They did. They have been targeting the wealthy for years. It has been all over the news.
Problem is, court cases are expensive, running audits are more expensive based on the scale of the assets involved.
The IRS always makes additional money back based on every dollar of funding given to them but Republicans always defund the IRS. Here is an article about it from the end of the last Trump Admin LINK HERE
Turns out they only have enough to audit the poor and middle class.
Fucken sick of this blatant manipulation by the wealthy. The IRS is our fucken money maker.
That kind of seems like the opposite of efficiency
Almost like efficiency was never the point.
Makes it more efficient for the wealthy when finding ways to avoid paying tax.
They should have cut all IRS investigations except the wealthy.
For every dollar spent on IRS audits for middle America, they get about a dollar back in recovered revenue. For every dollar spent on auditing wealthy Americans, they get about twelve dollars back in recovered revenue. I don’t think these cuts are intended to help balance the budget.
This is what you voted for protest non voters! Congratulations!
we the poor are not a fucking bank for these lazy bastards that just keep taking all our shit for their own personal financial gain… And they’ll keep taking and taking if we keep letting them, and we’ve been over the limit for some time already It’s past due to push them off of us
And yet, Republicans have been steadily making gains with the working class. With this past election they are now the dominant party for working class voters. It comes down to two things. American voters are deeply ignorant and the Democratic party is pathetically weak and out of touch.
