berg80
Diamond Member
- Oct 28, 2017
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Wealthy Americans are still ducking the IRS crackdown on non-filers
WASHINGTON — Tens of thousands of wealthy Americans are not complying with recently revamped Internal Revenue Service efforts to get them to file tax returns, according to data obtained exclusively by CNBC.
A quirk in federal tax law may be incentivizing wealthy people who want to avoid paying taxes to simply not file their returns. That’s because it’s a felony to file false tax returns but only a misdemeanor not to file a return at all.
And due to limited IRS and Department of Justice resources to pursue misdemeanor violations, a person who does not file a return is unlikely to face prosecution. As a result, many millionaires could simply be taking their chances, betting that they will face few consequences for not filing their tax returns.
The phrase, "one hand washing the other" comes to mind. Wait, that can't be right. Repubs are the party of the little guy now.

IRS funding may be on chopping block as Trump, Republicans eye spending cuts

IRS funding may be on chopping block as Trump, Republicans eye spending cuts
The Internal Revenue Service may be in for a wave of changes in the incoming Trump administration with the nomination of a new commissioner.

Republicans win faster IRS cuts in funding deal
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