I.R.S. Deploys Artificial Intelligence to Catch Tax Evasion
www.nytimes.com
The tax agency is opening examinations into large hedge funds, private equity groups, real estate investors and law firms.

I.R.S. Deploys Artificial Intelligence to Target Rich Partnerships::The tax agency is opening examinations into large hedge funds, private equity groups, real estate investors and law firms.

  • ShittyBeatlesFCPres@lemmy.worldEnglish
    741·
    10 months ago

    The IRS never stopped going after middle and working class tax cheats. They stopped going after the very rich because their budget was cut to the bone and they couldn’t afford to fight a protracted lawsuit and possibly lose.

    The reason they’re going after them now is because funding the IRS, at least on paper, brings in more revenue. So, it was a way for the Senate to get the Inflation Reduction Act fully paid for without adding debt or changing tax rates. (Same with allowing Medicaid/Medicare negotiate prescription drug prices. There’s a lot of money in America’s couch cushions.)

    • fubo@lemmy.worldEnglish
      41·
      10 months ago

      They stopped going after the very rich because their budget was cut to the bone and they couldn’t afford to fight a protracted lawsuit and possibly lose.

      They stopped going after the very rich because they were tactically underfunded by a corrupt administration that explicitly wanted them to stop going after the very rich. That administration then got voted out of office, so the rules are different now.

      • CethinEnglish
        13·
        10 months ago

        You’re correct, but it didn’t happen under Trump. It was under Reagan I believe. It’s never been fixed.