this post was submitted on 27 Feb 2024
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The U.S. Internal Revenue Service is seeking to use an infusion of funding to keep up with the ever-evolving tax maneuvers of the ultra-rich — while staving off frequent political attacks.

A pair of U.S. Internal Revenue Service agents are attempting to interview a billionaire they suspect of cheating on his taxes. But across the table from the agents is a formidable entourage of esteemed tax professionals hired to defend the billionaire. They include white-shoe attorneys — each of whom knows more about their own arcane corner of tax law than just about anyone on earth — along with highly specialized accountants and economists.

Neither of the two IRS agents has a law degree. Complex arguments from the billionaire’s entourage fly over their heads. The IRS agents are outmatched by a team whose combined years of experience in tax law and accounting exceed their own by over a century.

This stark example, laid out by former IRS officials in interviews with the International Consortium of Investigative Journalists, isn’t a hypothetical so much as a glimpse into the agency’s regular challenges in auditing the United States’ highest earners. These battles often come down to experience and expertise. The IRS has been losing, former officials said.

...

A historic push is now underway to change this dynamic. In mid-2022, the Inflation Reduction Act delivered the IRS a historic $80 billion — in part, to bulk up the agency’s divisions that audit millionaires, billionaires and large corporations. After years of pitiful enforcement rates against wealthy taxpayers, the agency is embarking on an unprecedented push to step up its capabilities and hone its ability to take on the ultra-rich.

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[–] FlyingSquid@lemmy.world 68 points 8 months ago

And, of course, Republicans want to take away their funding. Can't imagine why.

[–] zqwzzle@lemmy.ca 30 points 8 months ago

Set up a commission on what they manage to claw back, should attract some top talent.

[–] Magister@lemmy.world 19 points 8 months ago* (last edited 8 months ago) (2 children)

oh when I saw the title I thought it was a meme showing people sleeping or something, this unit exist? Poor guys, they are 2 without knowledge :-(

[–] ryan213@lemmy.ca 12 points 8 months ago (1 children)

Those two guys? Thunder and Lightning. [ kisses bicep ]

[–] reddfugee@lemmy.world 2 points 8 months ago

A Rundown reference? In the wild??

[–] ripcord@lemmy.world 1 points 8 months ago

2 guys? Didn't read the article or even finish the summary, I guess?

[–] EffortlessEffluvium@lemm.ee 11 points 8 months ago (2 children)

You know, I have an idea.

Volunteer tax auditors

Can’t defund me if I do it for free. Anybody with me to drain and potentially jail a few billionaires?

But across the table from the agents is a formidable entourage of esteemed tax professionals hired to defend the billionaire. They include white-shoe attorneys — each of whom knows more about their own arcane corner of tax law than just about anyone on earth — along with highly specialized accountants and economists.

I don't know if there's much volunteers could do. But, with enough people and some good organization who knows.

[–] skuzz@discuss.tchncs.de 1 points 8 months ago

Would be a brilliant movement and a way to actively fight those greedy bastards. Would need people well-versed or quick at learning.

[–] BobGnarley@lemm.ee 6 points 8 months ago (2 children)

Lol. This team is drawfed by the team the IRS has that specifically targets all the poor folks only because that can't afford the litigation. Fuck the IRS.

[–] TurtleJoe@lemmy.world 9 points 8 months ago

All of the increase in funding is to go after people who make $400,000/yr or more.

[–] ripcord@lemmy.world 1 points 8 months ago* (last edited 8 months ago)

God damn what sad sacks some of you are

[–] Bocky@lemmy.world 5 points 8 months ago (3 children)

If this is the case, why has this IRS team not brought in bigger guns? Hire some tax experts and some attorneys to face these billionaires.

[–] kent_eh@lemmy.ca 8 points 8 months ago

why has this IRS team not brought in bigger guns

Because their political masters keep kneecapping their ability yo do so.

[–] kurwa@lemmy.world 5 points 8 months ago (1 children)
[–] RedditWanderer@lemmy.world 7 points 8 months ago (1 children)

Funding controlled by the elite who have all the reasons to be more lax with millionaires and billionaires..they think the middle class should pay for everything, we're the one's who are "too stupid to be rich"..

[–] ripcord@lemmy.world 1 points 8 months ago

...Which they just gave $80 billion to, to go after the millionaires and billionaires.

People here are complaining that they're not doing a thing they want, in the article specifically about them finally doing the thing they want.

Nothing can ever, ever be good or positive - we get it - but find something else to shit on maybe? Or read the article first...?

[–] bhamlin@lemmy.world -1 points 8 months ago

"Why is this an entirely empty building?"