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Warren Introduces IRS Bill to Stop Wealthy Tax Cheats and Close the Tax Gap
warren.senate.gov ^ | 05/24/2021 | Elizabeth Warren

Posted on 05/25/2021 10:27:10 AM PDT by DFG

Today, United States Senator Elizabeth Warren (D-Mass.), a member of the Senate Finance Committee, introduced the Restoring the IRS Act of 2021, which would provide the Internal Revenue Service (IRS) with the resources it needs to go after wealthy tax cheats and close the tax gap. The bill would rebuild and strengthen the IRS by permanently removing the IRS's base budget from the annual appropriations process and providing $31.5 billion in mandatory annual funding. This funding will allow the IRS to fairly enforce the tax code, modernize its IT systems, and improve taxpayer services.

-snip-

The bill would also improve tax compliance by:

Requiring new third-party reporting from financial institutions to help the IRS verify tax filings for taxpayers with less visible income streams - without adding any burden on individuals Requiring the IRS to create a plan, and report annually on implementation progress, to shift audits towards high-income, high-wealth tax filers and corporations Requiring the IRS to report annually on the tax gap, and how additional information reporting requirements could further close the tax gap Requiring the IRS to conduct an analysis of racial disparities in the agency's enforcement activity Increasing penalties for underpayment for taxpayers with income above $2 million Applying the False Claims Act to misstatements on tax returns for taxpayers with income above $10 million

(Excerpt) Read more at warren.senate.gov ...


TOPICS: Government; News/Current Events
KEYWORDS: irs; tax; warren
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To: from occupied ga
I can’t decide who is the most despicable POS in the Senate, but Warren is one of the top contenders for the title along with Blumenthal, Schumer, Hirono and a few others

The shorter list would be who isn't a POS

21 posted on 05/25/2021 11:19:20 AM PDT by 1Old Pro (Let's make crime illegal again!)
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To: DFG

Probably over 90% of tax cheats are Democrats.

Happy hunting, Liz.

We need more Republican voters.


22 posted on 05/25/2021 11:20:08 AM PDT by Brian Griffin
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To: DFG

Here is what this C**t and her critters are up to.

They want access to your banks accounts. So they can see what is being put in and what is being taken out and for what reason.
They will eventually move to a cashless society so they can control where you work, who you work for and what you do, how much you make and what they determine you should be allowed to spend on.

TOTAL CONTROL.

Whats this sound like?


23 posted on 05/25/2021 11:29:45 AM PDT by crz
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To: CodeToad
She’s a tax cheat.

She cheats at everything. That's how she got her Harvard job.

For years she practiced law in Massachusetts without being a member of the bar. The Board of Bar Overseers were too afraid of her to try to censure her.

24 posted on 05/25/2021 11:29:48 AM PDT by ladyjane
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To: DFG

Her and Clinton and Biden included?


25 posted on 05/25/2021 11:32:46 AM PDT by SkyDancer (I Identify As Vaccinated)
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To: DFG

Naturally democrat politicians are exempt...


26 posted on 05/25/2021 11:33:42 AM PDT by jughandle (Big words anger me, keep talking. )
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To: Amendment10

“Congress’s Section 8-limited powers”

The power for the welfare state comes from Article IV, Section 3:
“The Congress shall have power to dispose of...the territory or other property belonging to the United States”


27 posted on 05/25/2021 11:34:10 AM PDT by Brian Griffin
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To: crz

“So they can see what is being put in and what is being taken out and for what reason.”

Lot of gold jewelry “for the little lady” will get bought, and then exchanged for other things.


28 posted on 05/25/2021 11:37:40 AM PDT by Brian Griffin
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To: DFG

Does that also include the “Hey I wrote a book no one bought and made $50 million dollars” slush funds?


29 posted on 05/25/2021 11:42:57 AM PDT by The MAGA-Deplorian (Democrats are lawless because Republicans are ball-less)
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To: DFG

“The Accountable Capitalism Act, 115th Congress (2017–18) S. 3348 is a proposed federal bill introduced by Senator Elizabeth Warren in August 2018. It would require that employees elect 40% of a board of directors of any corporation with over $1 billion in tax receipts, and that 75% of shareholders and directors must approve any political spending. Corporations with revenue over $1 billion would be required to obtain a federal corporate charter. The Act contains a “constituency statute” that would give directors a duty of “creating a general public benefit” with regard to a corporation’s stakeholders, including shareholders, employees, and the environment, and the interests of the enterprise in the long-term.”

https://en.wikipedia.org/wiki/Accountable_Capitalism_Act


30 posted on 05/25/2021 11:45:09 AM PDT by Brian Griffin
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To: faithhopecharity

Sign me up as a supporter!


31 posted on 05/25/2021 11:51:02 AM PDT by entropy12 (President Trump saved Millions of lives with his warp speed push of vaccines, including my spouse.)
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To: DFG
...Wealthy Tax Cheats...

You mean guys like Trump, who move to a free state to avoid punitive taxes?

32 posted on 05/25/2021 11:52:14 AM PDT by JimRed (TERM LIMITS, NOW! Militia to the border! TRUTH is the new HATE SPEECH.)
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To: DFG

Wealthy swamp creatures are exempt.


33 posted on 05/25/2021 11:55:56 AM PDT by lurk ( )
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To: DFG

Where is Ted Cruz with abolish the IRS?


34 posted on 05/25/2021 12:25:04 PM PDT by Jonny7797
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To: DFG

Wealthy???

Expats like myself who currently enjoy up to a $108,700 tax credit (not that my income is close to that)

IRS also tightening FATCA enforcement as well.


35 posted on 05/25/2021 12:44:42 PM PDT by Starcitizen (So Indian H1B crybaby trash runs Free Republic moderation??? Seems so. )
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To: DFG
From an obscure [to many] document of some 2 and a half centuries ago with a 'slight' modification to the pronouns ...

[S]He has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people, and eat out their substance.

For imposing Taxes on us without our Consent:

[S]He has excited domestic insurrections amongst us ...

...

Sound familiar?

36 posted on 05/25/2021 1:31:58 PM PDT by SES1066 (Ask not what the LEFT can do for you, rather ask what the LEFT is doing to YOU!)
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To: Brian Griffin

That is true, but there is a far better solution.

Get away from them.

Secession.


37 posted on 05/25/2021 1:39:32 PM PDT by crz
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To: DFG
"Wealthy tax cheats" = anyone who makes more money than Elizabeth Warren.

(Make me King, and I will eliminate the FBI, the CIA and the IRS.)

38 posted on 05/25/2021 1:53:32 PM PDT by Sooth2222 (“Taxation without representation is tyranny.” -James Otis (1761))
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To: DFG

Another rope please


39 posted on 05/25/2021 4:06:13 PM PDT by ronnie raygun
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To: 1Old Pro
The shorter list would be who isn't a POS

Oh I agree. I was wondering who the absolute worst was, and if Warren isn't then she's a close second to whoever is. The problems is that there are so many who should be behind bars either of the jail type or reaching their career pinnacle as bartenders it's hard to make a choice.

40 posted on 05/26/2021 12:54:22 PM PDT by from occupied ga (Your government is your most dangerous enemy - EVs a solution for which there is no problem)
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