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How much did Congress lose by defunding the IRS? Way more than we thought.
(www.washingtonpost.com)
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this post was submitted on 14 Jun 2023
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Smart enough to set up a Lemmy instance, too dumb to read financial graphs. Can anyone help someone dumb with money? :)
The IRS generates many times more revenue than its operating cost when they audit wealthy taxpayers.
For some reason, the link was originally only showing me the graph, not the actual article. But thank you for the summary!
Meanwhile, they have started requiring people to disclose even $600/yr income gained from side sources. This is down from the previous requirement of mandating it only if you earn $20,000/yr from side sources.
If they only intend to audit the big guys, why are they suddenly requiring people to report a measly $600/yr in side-income while simultaneously massively beefing up the number of auditors?