I do not expect a properly staffed tax agency to.
I do not expect a properly staffed tax agency to.
https://en.m.wikipedia.org/wiki/IRS_targeting_controversy
(Read the fourth paragraph of this page)
If doctors started forming non-profits to do financial engineering to get tax-exempt status, I'd sure as hell hope that the IRS would devote a bit more scrutiny than usual to practitioners of that profession.
Political groups started doing financial engineering to get tax-exempt status. The IRS started auditing them a bit more closely. I don't see the issue.
> If doctors started forming non-profits to do financial engineering to get tax-exempt status, I'd sure as hell hope that the IRS would devote a bit more scrutiny than usual to practitioners of that profession.
> Political groups started doing financial engineering to get tax-exempt status. The IRS started auditing them a bit more closely. I don't see the issue.
The country's inspector general deemed it unlawful. Given the report that came out from the investigation, there seems to be more to the audits than neutral scrutiny that is not performed on the basis of ideology.
The IRS does this all the time.
And unlike criminal law, the burden of proof is on the accused, not the state.
Or is this just a meme largely spread by a demographic who is upset that their magic internet money is, in fact, subject to taxes (or, alternatively, a demographic that thinks all taxes are theft)?
Did you know that the ominous, threatening letters sent out by the IRS to crypto traders was an indiscriminate shotgun blast of mailings sent to every Coinbase customer with an account value over a certain threshold? Did you know that the IRS wanted personal info on every single Coinbase customer until that was ruled unlawful?
So yes, thousands of presumably innocent people who "followed proper accounting practices and who reported their income correctly" were harassed by a letter from a tax agency insinuating that they had misreported crypto earnings.
IRS agents are no exception.