I.R.S. Deploys Artificial Intelligence to Target Rich Partnerships

[Flash]

math isn't your strong suit, is it? what gives you more money? finding 20 millionaire tax cheats for 20k each? or 150 MILLION tax cheats for 200 dollars each?

Your math is ok but based on wrong assumptions.

The bottom 50% filed 78 million tax returns and paid an average of $504 in income taxes and earned 10.2% of total adjusted gross income.

The top 50% filed 78 million tax returns and paid an average of $21,187 in income taxes and earned 89.8% of total adjusted gross income.

That means the bottom 50% uses the simple form and has no deductions to cheat. It is very unlikely many of them have $200 of unreported income.

The point is that it is a waste of time to seek additional revenues from those that owed no income taxes and whose income would produce very little in revenue. A group that earned 10.2% of total adjusted gross income versus a group that earned 89.9% of income is not enough to fool with.

 

[SmarterthanYou]

I sense you are unfamiliar with how legislation is crafted. Lobbyists are quite commonly involved. Not a good system, but common enough.

I sense you are unfamiliar with how legislation is passed. Legislators are quite commonly involved..........i.e. legislators are the ONLY ones who can pass or not pass a bill..........

 

[SmarterthanYou]

Your math is ok but based on wrong assumptions.

The bottom 50% filed 78 million tax returns and paid an average of $504 in income taxes and earned 10.2% of total adjusted gross income.

The top 50% filed 78 million tax returns and paid an average of $21,187 in income taxes and earned 89.8% of total adjusted gross income.

That means the bottom 50% uses the simple form and has no deductions to cheat. It is very unlikely many of them have $200 of unreported income.

The point is that it is a waste of time to seek additional revenues from those that owed no income taxes and whose income would produce very little in revenue. A group that earned 10.2% of total adjusted gross income versus a group that earned 89.9% of income is not enough to fool with.

what percentage of that top 50% are actual millionaires?

 

[Flash]

what percentage of that top 50% are actual millionaires?

? Is that relevant? A person does not have to be a millionaire to have unreported income. I think I have read there are 10 million millionaires in the U. S.

 

[SmarterthanYou]

? Is that relevant? A person does not have to be a millionaire to have unreported income. I think I have read there are 10 million millionaires in the U. S.

of course it's relevant. Like I stated previously, do you think that those millionaires don't have the brightest tax attorneys out there who know how to use all those loopholes to protect their money, whereas the middle and lower class do not?

 

[Flash]

of course it's relevant. Like I stated previously, do you think that those millionaires don't have the brightest tax attorneys out there who know how to use all those loopholes to protect their money, whereas the middle and lower class do not?

The middle and lower classes don't have enough money to protect in loopholes. They pay an average of $500 in income taxes--how much more do they have hidden away?

 

[Bigdog]

The Internal Revenue Service has started using artificial intelligence to investigate tax evasion at multibillion-dollar partnerships as it looks for ways to better police hedge funds, private equity groups, real estate investors and large law firms.

The announcement on Friday demonstrated how a more muscular I.R.S. is using some of the $80 billion allocated through last year’s Inflation Reduction Act to target the wealthiest Americans and tackle the kinds of cases that had become too complex and cumbersome for the beleaguered agency to handle.

https://www.nytimes.com/2023/09/08/...intelligence-to-target-rich-partnerships.html

"Democrats now represent 9 of the 10 wealthiest districts in America. Of the 195 districts richer than the national household median income (about $71,000), Democrats out-represent Republicans by 2 to 1. While the 240 districts below the median are represented 2 to 1 by the GOP."

https://www.seattletimes.com/seattl...mocrats-as-the-party-of-the-rich-from-within/

 

[BidenPresident]

"Democrats now represent 9 of the 10 wealthiest districts in America. Of the 195 districts richer than the national household median income (about $71,000), Democrats out-represent Republicans by 2 to 1. While the 240 districts below the median are represented 2 to 1 by the GOP."

https://www.seattletimes.com/seattl...mocrats-as-the-party-of-the-rich-from-within/

and?

 

[Nordberg]

so the legislators, who are our elected officials, write the bills for the president to sign, except for tax codes???

Lobbyists actually write many bills and tax breaks, The legislator's job is to slip the bill into a huge omnibus bill or a defense bill that will never be voted down. That is how your system has worked for a century.

 

[Nordberg]

of course it's relevant. Like I stated previously, do you think that those millionaires don't have the brightest tax attorneys out there who know how to use all those loopholes to protect their money, whereas the middle and lower class do not?

Tax attorneys do not write bills. In order to take advantage of the loopholes. a politician has to get the tax break passed into law. You could use the same tax breaks if you had multiple offshore accounts. But those tax breaks are sometimes very specific. There are many, many breaks written for specific industries. We gave tax breaks to companies that moved offshore. If you had a company moving you could have claimed it. But you do not. One of the reasons we have the worst wealth gap ever is the accumulated effect of tax breaks and loopholes that pertain to the wealthy and corporations.

 

[Bigdog]

and?

Elitist White Libs pretending to be poor.

"Democrats now represent 9 of the 10 wealthiest districts in America. Of the 195 districts richer than the national household median income (about $71,000), Democrats out-represent Republicans by 2 to 1."

 

[Saint Guinefort]

I sense you are unfamiliar with how legislation is passed. Legislators are quite commonly involved..........i.e. legislators are the ONLY ones who can pass or not pass a bill..........

Do you think that legislation just magically appears on their dockets?

 

[BidenPresident]

Elitist White Libs pretending to be poor.

"Democrats now represent 9 of the 10 wealthiest districts in America. Of the 195 districts richer than the national household median income (about $71,000), Democrats out-represent Republicans by 2 to 1."

What does that have to do with the topic of the thread?

 

[Bigdog]

What does that have to do with the topic of the thread?

Depends on how many white libs the IRS prosecutes.

The Dem narrative that white libs are poor, penniless, and downtrodden is nonsense.

 

[BidenPresident]

Depends on how many white libs the IRS prosecutes.

The Dem narrative that white libs are poor, penniless, and downtrodden is nonsense.

start your own thread

 

[Damocles]

That is not where the money is.

Tell that to the current pResident who wanted to send the new IRS agents after my daughter's tips rather than that standard group of political theater "bad guy" that we constantly hear about... you know... "the rich"...

 

[SmarterthanYou]

The middle and lower classes don't have enough money to protect in loopholes. They pay an average of $500 in income taxes--how much more do they have hidden away?

but they have money. the IRS came after me hard for 2k in missed taxes..........do you believe that they are going to look at 50 million income tax forms and decide that 200 dollars for these 50 million people isn't worth going after?????

if you truly believe that, then you're as deluded as any of the radical for left idolators out there.

 

[Bigdog]

start your own thread

Why? Because it's going to be a Lois Lerner IRS targeting of conservatives all over again, despite the fact that Dems are the party of the rich?

 

[SmarterthanYou]

Lobbyists actually write many bills and tax breaks, The legislator's job is to slip the bill into a huge omnibus bill or a defense bill that will never be voted down. That is how your system has worked for a century.

so you're admitting that both republicans AND democrats promote and support all of those tax loopholes to protect their own money and that of their supporters. thanks.

 

[SmarterthanYou]

Tax attorneys do not write bills.

are you saying that not one single lobbyist for tax code laws is a tax attorney??????

In order to take advantage of the loopholes. a politician has to get the tax break passed into law. You could use the same tax breaks if you had multiple offshore accounts. But those tax breaks are sometimes very specific. There are many, many breaks written for specific industries. We gave tax breaks to companies that moved offshore. If you had a company moving you could have claimed it. But you do not. One of the reasons we have the worst wealth gap ever is the accumulated effect of tax breaks and loopholes that pertain to the wealthy and corporations.

again, you're ADMITTING that democrats and republicans pass tax laws with supported loopholes to protect their own money, and that of their campaign supporters.