https://www.propublica.org/article/the-ftc-is-investigating-...
Based on what I’m hearing from folks inside the gov, this administration will encourage and support the IRS in flexing to be more citizen friendly and focused instead of rolling over for Intuit and Co (which personally I find to be refreshing).
Stay tuned, progress ahead.
As the saying goes, “I like taxes, with them I buy civilization.”
This sounds like all those police departments who hire cops and then end up writing lots of speeding tickets to pay for the cops.
According to the CBO: https://www.cbo.gov/publication/56467 "CBO estimates that increasing the IRS’s funding for examinations and collections by $20 billion over 10 years would increase revenues by $61 billion and that increasing such funding by $40 billion over 10 years would increase revenues by $103 billion."
Additionally the poor are now being audited as much as the rich (but not the super rich). Maybe this could be seen as IRS incompetence but I think given proper funding and motivation they'd be happy to turn this around. The decline of the auditing of the wealthy went hand in hand with IRS de-funding.
"Americans who receive the earned income tax credit, one of the country’s largest anti-poverty programs, are audited at a higher rate than all but the richest taxpayers. " https://www.propublica.org/article/irs-now-audits-poor-ameri...
For the good of the economy, they should be looking at how much hiring an auditor and doing more audits helps the economic outlook of the whole USA.
Audits on honest people cost those people time they could use to generate economic value.
Audits on the dishonest might prevent dishonesty, but the economic value gained for the country isn't equal to that collected from the dishonest person - since you are reducing their spending on rolexes...
This should be good news for the regular tax payer and incentivize those making $400k+/yr to play by the rules or risk jail time. Stop stealing from the treasury and start helping your fellow citizen.