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Tuesday, August 30th, 2022

Just 2% of the richest Americans had their taxes audited in 2019, down from 16% in 2010

Author:     Robert Frank
Source:     CNBC
Publication Date:     TUE, MAY 17 2022 | 6:01 PM EDT
 Link: Just 2% of the richest Americans had their taxes audited in 2019, down from 16% in 2010
Stephan:   Here is a report that explains why Republicans don't want the funding of the IRS increased. During the Trump reign, the IRS was rigged by cutting its budget in such a way that the uber rich, who rented the MAGAt congressional whores to see this funding decrease occurred, assisted by Trump's administration, were much less likely to be audited, whereas poor and middle-class Americans saw audits increase.
The Internal Revenue Service headquarters in Washington, D.C.
Credit: Andrew Harrer / Bloomberg / Getty
  • The audit rate for Americans earning more than $5 million a year plunged from to just over 2% in 2019 from over 16% in 2010, according to a report from the Government Accountability Office.
  • The main reason for the decline, according to the report, is a lack of IRS funding.
  • The IRS also has seen its staffing levels fall to the same levels as 1973, despite having millions more returns to process and additional mandates to perform.

The wealthiest Americans are getting their taxes audited at a far lower rate than they were over a decade ago, due in large part to staff and funding shortages at the Internal Revenue Service, according to a new report.

The audit rate for Americans earning more than $5 million a year plunged to just over 2% in 2019 from over 16% in 2010, according to a report from the Government Accountability Office, a federal watchdog. That means only about 1 in 50 high earners were audited in 2019, […]

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1 Comment

  1. Rev. Dean on Tuesday, August 30, 2022 at 11:39 am

    My taxes have been audited by the IRS and they have not even told me their excuse. I believe they have stolen money from me, but they never said what I owe or why I owe it!