They also won’t audit you if your rich, so there is a nice middle-class sweet spot they can exploit. If your poor though, they may try to still come after you so they can throw you in jail for some of that cheap labor for tax evasion.
Under the Biden administration, as a result of the inflation reduction act, the IRS audited the rich and saw large increases in revenue as a result.
As part of larger efforts taking place, the IRS has stepped up activity specifically on 1,600 individuals whose incomes were more than $1 million per year and who each owed the IRS more than $250,000 in recognized tax debt. Since last fall, this IRS compliance effort has generated more than $1 billion in collections from this group, with work continuing in this area.
Yes, it’s a rule likely based on amount and likelihood to recoup. There’s no incentive to go after people who know how to cheat the system. You gotta go after the folks who don’t know how to fight back.
They also won’t audit you if your rich, so there is a nice middle-class sweet spot they can exploit. If your poor though, they may try to still come after you so they can throw you in jail for some of that cheap labor for tax evasion.
Under the Biden administration, as a result of the inflation reduction act, the IRS audited the rich and saw large increases in revenue as a result.
~The IRS
Yes, it’s a rule likely based on amount and likelihood to recoup. There’s no incentive to go after people who know how to cheat the system. You gotta go after the folks who don’t know how to fight back.
The current admin gutted the IRS specifically so they didn’t have enough resources to go after the rich