No Blue state money for #RedState #Deadbeats and #TaxCheats —

Remember blue states taxes make it possible for red states to have no state income taxes.

https://newsie.social/@servelan/114767456584474198

#PresidentMusk & #Trump continue to implement #Project2025 and #RAGE.

The #IRS was understaffed until the #Biden administration hired more staff and audited more #taxcheats to where they were able to increase tax revenue by 1 billion dollars in one year. But along comes Trump, and they fire these employees. So now these cheaters can resume not paying their rightful share. America already has a revenue crisis that has ballooned the deficit, and under Trump will grow worse.

We require MORE IRS staff, not less, so the #Musks of the world will not get a free ride on the backs of working Americans.

PROPUBLICA on how just a few BILLIONAIRES HAVE AVOIDED PAYING MEDICARE TAXES and saved over US $1.3B in the process.

The article is both an overview and names names among the billionaire class who abuse this tax loophole.

https://www.propublica.org/article/billionaires-net-investment-income-tax

#propublica #taxes #republicans #taxcheats #taxevasion #ultrawealthy #irs

Wealthy Americans are still ducking the IRS crackdown on non-filers.

10s of 1000s of wealthy Americans aren't complying with recently revamped IRS efforts to get them to file tax returns.

“We continue to pursue these folks -This isn't work that we will let go.”
-IRS

A quirk in fed tax law may be incentivizing wealthy people who want to avoid taxes to not file their returns.

The IRS needs more funding, under the Trump admin, they'll likely be defunded.

#IRS #TaxCheats
https://www.cnbc.com/2024/12/05/irs-crackdown-on-wealthy-americans-faces-roadblocks-.html

😃The IRS is targeting rich #TaxCheats, thanks to the Biden admin's IRA:

The nation’s wealthy are evading >$150B/yr in taxes. With billion$ in new funding from Congress -launched a sweeping crackdown on these taxpayers, partnerships & large cos.

“We've to make investments to make sure that whether you’re a complicated filer who can afford to hire an army of lawyers & accountants -the IRS is equally able to determine what’s owed to us -a fairer system,” -IRS COM Werfel.
https://www.cnbc.com/2024/02/22/tax-evasion-by-wealthiest-americans-tops-150-billion-a-year-irs.html

Good: The IRS is taking on tax cheats who misuse corp jet business deductions:

IRS plans “dozens of new audits” of corp. jet usage as part of its increased scrutiny of lg. corps, complex partnerships & top earners.

The IRS believes some cos. overstate bus deductions when using corp aircraft for mixed bus & personal travel. Some individuals may be using corp. jets for personal trips w/o reporting the perk as income.

>10,000 corp. jets operate in the US...

#TaxCheats

https://www.cnbc.com/2024/02/21/irs-to-crack-down-on-corporate-jets-used-for-personal-travel.html