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Tax evasion by millionaires and billionaires tops $150 billion a year, says IRS chief
CNBC ^ | 22 February 2024 | Robert Frank

Posted on 02/22/2024 8:41:53 AM PST by zeestephen

The IRS, with billion of dollars in new funding from Congress, has launched a sweeping crackdown on wealthy taxpayers, partnerships and large companies.

(Excerpt) Read more at cnbc.com ...


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Is the Biden family getting a kick back from USA tax lawyers?

Prediction...

When the recovered funds come no where near $150 billion, the GOP will be blamed for tax cuts and protecting the rich.

1 posted on 02/22/2024 8:41:53 AM PST by zeestephen
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To: zeestephen

The Big Guy needs new shoes.


2 posted on 02/22/2024 8:43:13 AM PST by SpaceBar
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To: zeestephen

That’s nothing compared to tax waste by the govt. The raid needs to happen in congress.


3 posted on 02/22/2024 8:44:48 AM PST by SaxxonWoods (Are you ready for Black Lives MAGA? It's coming.)
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To: zeestephen

It’s an extortion gig.

If you contribute to Biden/DNC, you won’t get tagged.


4 posted on 02/22/2024 8:44:57 AM PST by Regulator (It's fraud, Jim)
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To: zeestephen

Only a matter of time before they go after the majority of businesses in the U.S., the small businessmen and women. Stay tuned for the goon squads to show up at your neighborhood tavern, nail salon, insurance office, landscaper and contractor. Drooling for dollars.....parasites in action with the law on their side. A continuing slide in the loss of freedom in America....


5 posted on 02/22/2024 8:45:34 AM PST by john drake (Lucius Accius-Roman,170 BC - "oderint dum metuant" translated "Let them hate so long as they fear")
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To: zeestephen

Follow the rules, read the fine print, hire CPA and MBA to do your taxes.

Oh, you are evading your taxes.

Note that the CA tax instructions state that those instructions themselves are not the legal tax law. But you read them and follow the steps to submit your return. ?????


6 posted on 02/22/2024 8:46:11 AM PST by Scrambler Bob
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To: zeestephen

Gee, that’s enough to cover the latest round of Student Loan forgiveness.... We NEED to go after them!

On deck - Reparations!


7 posted on 02/22/2024 8:46:54 AM PST by theyreallthesame
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To: zeestephen

This wouldn’t be a problem if they took a flamethrower to the tax code, and put in a flat tax, no exemptions, no deductions.


8 posted on 02/22/2024 8:47:00 AM PST by Eccl 10:2 (Prov 3:5 --- "Trust in the Lord with all your heart, and lean not on your own understanding")
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To: zeestephen

Democrats are the party of Billionaires, Millionaires tend to be Republicans, so guess who they’ll go after?


9 posted on 02/22/2024 8:47:40 AM PST by dfwgator (Endut! Hoch Hech!)
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To: zeestephen

Look at politicians. Why is the area around DC the highest real estate? These people work for us

Come on.


10 posted on 02/22/2024 8:48:50 AM PST by stanne
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To: zeestephen

Prince Harry’s court date is tomorrow.

Wonder if Deep State refusing to comply with Heritage’s FOIA request is really because the Harkles are tax cheats...


11 posted on 02/22/2024 8:49:03 AM PST by mewzilla (Never give up; never surrender!)
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To: zeestephen

Evasion...which has a specific legal meaning...or smart, legal use of the tax code? Me thinks this tool is conflating the two.


12 posted on 02/22/2024 8:50:24 AM PST by Bonemaker (invictus maneo)
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To: Scrambler Bob
Re: "Hire CPA and MBA to do your taxes."

Second option...

Report all your income and take the Standard Deduction.

They have no place to look after you do that.

13 posted on 02/22/2024 8:53:12 AM PST by zeestephen (Trump "Lost" By 43,000 Votes - Spread Across Three States - GA, WI, AZ)
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To: zeestephen

Not to worry, those tax cuts expire next year at least for the working class. It will be the largest tax increase in history. And somebody will be rightfully so blamed.


14 posted on 02/22/2024 8:54:57 AM PST by napscoordinator (DeSantis is a beast! Florida is the freest state in the country! )
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To: Bonemaker
You are most likely right.

I will paraphrase FDR on this one:

'It is the duty of all citizens to pay their federal taxes. It is also the right of those citizens to use every tax benefit afforded to them in the Federal tax codes.'

15 posted on 02/22/2024 8:55:40 AM PST by Michael.SF. (There is only one reason why I will ever vote for a Republican: Democrats)
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To: zeestephen

Don’t fall for the bait and switch. They will talk millionaires and billionaires but they are going after the middle class.


16 posted on 02/22/2024 8:57:39 AM PST by circlecity
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To: zeestephen

Peanuts when compared to the trillions of our tax dollars lost to theft, waste and fraud committed by members of our government each year.


17 posted on 02/22/2024 8:58:31 AM PST by Jim Robinson (Resistance to tyranny is obedience to God.)
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To: circlecity
Don’t fall for the bait and switch. They will talk millionaires and billionaires but they are going after the middle class.

BINGO!

18 posted on 02/22/2024 8:58:44 AM PST by dfwgator (Endut! Hoch Hech!)
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To: zeestephen

Report all your income and take the Standard Deduction.

They have no place to look after you do that.
= = =

Yes, if income is W-2 and 1099s.

But what if I sold a car or my horse or some hobby item I made?


19 posted on 02/22/2024 8:59:12 AM PST by Scrambler Bob
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To: zeestephen

Yeah? IF so, so what? That’s just 1 payment to ukraine or a couple payments to terrorist nations by the gov-


20 posted on 02/22/2024 9:04:59 AM PST by Bob434
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