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IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power (apnews.com)

submitted 2 weeks ago by [email protected] to c/[email protected]

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IRS leadership on Thursday announced that the agency has recovered $4.7 billion in back taxes and proceeds from a variety of crimes.

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[–] [email protected] 10 points 2 weeks ago (1 children)

With that kind of return on their time investment, they could probably just not collect from the bottom 99% and still be net positive overall.

[–] [email protected] 2 points 2 weeks ago (1 children)

You're off by a factor of roughly 1000. US collected 4.7 trillion in taxes last year.

[–] [email protected] 4 points 2 weeks ago

Except not really. Most tax revenue requires no audit investigation at all, it is just from regular correct filings.

From the audits, the return on investment for those 1%er investigations is probably that large compared to going after the average citizen. The average person simply doesn't make enough to try and hide millions from the IRS in the first place.