This guy has business ‘s….
He’s attched to Real Estate….
He ran a political campiagn that ran in the hundreed’s of millions…
And only ONE person was responsible to check his taxes?
Trump appointed the IRS boss?
The Republicans in Congress only want the agency funded enough to collect money to pay their salries and expenses ….
Before Donald J. Trump became president and after, his exceedingly complex and voluminous tax returns came under regular scrutiny by the Internal Revenue Service. The number of agents assigned to the audit team: one.
After he left office, the I.R.S. said it was beefing up the audit team, to three. The tax agency itself acknowledged that it was still overwhelmed by the complexity of Mr. Trump’s finances and the resistance mounted by the former president and his sophisticated army of accountants and lawyers, which included a former I.R.S. chief counsel and raised questions early last year about why even three revenue agents should be assigned to audit him.
“With over 400 flow-thru returns reported on the Form 1040, it is not possible to obtain the resources available to examine all potential issues,” I.R.S. agents said of Mr. Trump’s tax returns in an internal memo that was released by the House Ways and Means Committee this week as part of its oversight of the mandatory presidential audit process.
The I.R.S. is a sprawling agency, and an audit notice can strike fear in most taxpayers. But the committee reports released this week highlight how depleted the I.R.S. has become in the last decade, as Republicans starved it of funding. They also show how the agency has become increasingly unable to crack down on wealthy taxpayers who push the legal limits to lower their tax bills and have the means to fend off audits if they get caught.
That has led to a $7 trillion “tax gap” of revenue over a decade that is owed but goes uncollected, in many cases from superrich taxpayers such as Mr. Trump, who has boasted that he fights to pay as little tax as possible. But the resource shortfall is playing out against the backdrop of a partisan and ideological battle over the I.R.S. that appears sure to continue to constrain its ability to match the capacity of an industry dedicated to tax minimization and avoidance.
The agency’s work force of about 80,000 is the same size as it was in 1970. Its enforcement staff has fallen by over 30 percent since 2010, and audits of millionaires have declined by more than 70 percent. Its budget has declined by nearly 20 percent, when accounting for inflation, during the last decade.
Republicans have for years accused the I.R.S. of political bias and unfairly targeting conservatives. For that reason, they have fought to cut the agency’s funding or, in some cases, called to abolish it altogether.
The spending package that Congress is voting on this weekreduces the base funding levels for the I.R.S. by $275 million to $12.32 billion, which Republicans hailed as a victory.
However, that does not account for the $80 billion in supplemental funding that the I.R.S. was granted through the Inflation Reduction Act this year to buttress its resources over the next decade and hire more than 80,000 agents and staff members….
No wonder the audit on his $75 Million refund was never finished….
And the guy paid NO Federal income tax in the last year of his Presidency?
Leave a Reply
You must be logged in to post a comment.