IRS Commissioner Danny Werfel says in a new interview that the IRS will expand its pursuit of high-wealth tax dodgers in the coming months.
IRS Commissioner Danny Werfel has a message for high-wealth tax cheats who are wrongly deducting private jet travel and otherwise shorting the government on their taxes: Pay your fair share so “others aren’t shouldering the burden of funding our government.”
Werfel, who will hit the one-year mark at the helm of the IRS in April, said in a wide-ranging interview with The Associated Press that the agency will expand its pursuit of high-wealth tax dodgers with new initiatives in the coming months and is using tools like artificial intelligence to ferret out abuses and taking the fight to sophisticated scammers.
That doesn’t mean the IRS has undergone a complete image makeover. There’s still plenty of criticism to go around, including from Republican lawmakers who accuse the agency of heavy-handed overreach.
The simplest solution to avoid all this bullshit is to abandon our ridiculous gargantuan tax code system and implement a flat tax rate system. The same percentage for everyone with no loopholes or exemptions except for the most extenuous of circumstances.
A flat tax is a terrible idea. 10% of the salary of someone who makes $50,000 a year is a lot bigger hardship than 10% of the salary of someone who makes $500,000 a year.
Years ago I came up with an algorithmic progressive tax that tracks the income distribution curve.
Using the 2011 numbers I could get 1% increments for. With a top tax rate of 40%, the bottom ~85% of people had a tax rate below 5%, and the budget that year would still balance.
And being a fixed algorythm, it's completely closed to manipulation. Unless you lie about your income, but that's already a felony.
Go after a minimum wage worker for $200 dollars is a waste of time and money. Going after a billionaire/corporation for $200,000,000 will always have a greater ROI.
After the IRA was signed into law, Treasury Secretary Janet Yellen directed IRS leadership not to increase audit rates on people making less than $400,000 a year annually.
Gives you an idea who they are actually targeting.