Natasha Sarin of the US Treasury Department is speaking out about how the IRS needs additional funds to hire on trained investigators to analyze the taxes of the rich. Doing so would help the economy by stopping the top 1% earners in our country from evading taxes. They typically do this by hiring financial professionals that shield them from their total tax liability, but experts are now trying to find a way to evaluate these past filings to pinpoint inaccuracies.
Key Takeaways:
- The top 1% of people are able to evade their taxes because they have financial resources that other people don’t have which allows them to exploit loopholes.
- The IRS needs to train and hire revenue agents in order to catch the rich people who are evading their fair share in taxes.
- A poll found that roughly 2/3 of Americans believe that there needs to be more resources available to catch people who cheat on their taxes.
“To enforce tax laws against the rich, she adds, the IRS “needs funding to hire and train revenue agents who can decipher their thousands of pages of sophisticated tax filings.”