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The US has looser standards for compliance by the ultra-wealty.

Aram Sinnreich

2024-03-01 12:58:31


Your daily reminder that it’s not immigrants who leech resources from American workers — it’s the ultra wealthy. https://www.washingtonpost.com/business/2024/02/29/tax-returns-irs-millionaires/

Thousands of millionaires haven’t filed tax returns for years, IRS says

The IRS said it stopped sending letters to people who didn’t file their tax returns, when the agency was strapped for funds. Now it’s going after the money.
Julie Zauzmer Weil (The Washington Post)
in reply to Florida Ted

tomgrzybow
tomgrzybow
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"Looser" is a vast understatement. These people get away with crimes for years, with little if any penalty.
in reply to Florida Ted

tomgrzybow
tomgrzybow
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I think if I evaded paying my taxes for 5 years, I would likely be in jail.
in reply to tomgrzybow

Florida Ted
Florida Ted
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> I think if I evaded paying my taxes for 5 years, I would likely be in jail.

Or, the IRS would simply come after your bank account(s). That's less expensive than taking people to court.

in reply to Florida Ted

tomgrzybow
tomgrzybow
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Well, that assumes I have a bank account. Some people manage to spend their money.
in reply to Florida Ted

Florida Ted
Florida Ted
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Well, then maybe a lien on any real estate you own (or co-own).
in reply to Florida Ted

tomgrzybow
tomgrzybow
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We are talking about the vulnerability of the common folk here, not the well-off.
in reply to Florida Ted

tomgrzybow
tomgrzybow
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I personally was audited two years in a row because of one small (very small) mistake made on one of our filings.
in reply to Florida Ted

Florida Ted
Florida Ted
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Wow! When I make a mistake, they just send me a notice that I owe them a certain amount (or once, that I was due a credit).
in reply to Florida Ted

tomgrzybow
tomgrzybow
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Maybe they don't like me for some reason?

But I flatter myself.

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