New Analysis Shows the IRS Audited Far More People at the Poverty Line Than Millionaires

[TBoneTX 45,572]

Please read the rationale and offer comments.

Quote

New Analysis Shows the IRS Audited Far More People at the Poverty Line Than Millionaires

By Brad Slager | Mar 12, 2022 1:16 PM ET

 

https://redstate.com/bradslager/2022/03/12/new-analysis-shows-the-irs-audited-far-more-people-at-the-poverty-line-than-millionaires-n535130  

 

Edited March 13, 2022 by TBoneTX

[AlaMike 231]

On 3/12/2022 at 9:53 PM, TBoneTX said:

Please read the rationale and offer comments.

I would think there are far less millionaires than people at or below the poverty level. Millionaires for the most part have very well paid accountants that make sure all the numbers are correct; even if they are using every tax loophole available.

Lower income filers either do it themselves or use a low cost or free service. Which would lead to the possibility of more errors or fraud.

Not sure how easy it is to "fudge" the numbers when it comes to write offs and deductions. I am sure everyone including the millionaires, middle and lower income filers try to keep more in the their pocket instead of the governments. The millionaire accountants do it better.

[Dashinka 24,629]

Big difference from a "correspondence audit" vs an "in person audit".  I would like to see the numbers of in person audits as I doubt those earning less than $25k are being subjected to those.   The correspondence audits for those taxpayers claiming exempt seems to be similar to a USCIS RFE.  I once was audited by mail, it was cleared up with a simple response, it was not a detailed deep dive into my return and deductions.

[TBoneTX 45,572]

Correspondence audits are certainly cheaper for the IRS, and they indeed seem to be limited to one or two items.

[Dashinka 24,629]

5 hours ago, TBoneTX said:

Correspondence audits are certainly cheaper for the IRS, and they indeed seem to be limited to one or two items.

I agree, in my case, somehow the IRS thought I did not disclose a number of bank accounts they thought belonged to me.  It turned out the accounts belonged to the Fire Authority I was part of at that time, so a notarized response from the lawyer and treasurer of the Fire Authority cleared everything up.  I have no idea how the IRS chose me of all the other 45-50 members of the Fire Authority as the owner, but it is an inefficient government bureaucracy.

[TBoneTX 45,572]

7 hours ago, Dashinka said:

I have no idea how the IRS chose me of all the other 45-50 members of the Fire Authority as the owner,

Your unquestioned capabilities and disgusting good looks, obviously!