IRS to lose 31% of their Tax Auditors

[Go aeiou]

Looks like a good year to make a "honest mistake" on your tax return.

Foolish cut. Auditors bring in many times their cost in revenue. Even the thought of an audit helps compliance.

 

[YankeeVol]

taxation is theft

 

[Pepe_Silvia]

Thieves losing their jobs.

How sad.

 

[mrorange211]

Looks like a good year to make a "honest mistake" on your tax return.

Foolish cut. Auditors bring in many times their cost in revenue. Even the thought of an audit helps compliance.

I'm thinking AI is gonna replace these people. More efficient anyway.

 

[Go aeiou]

I'm thinking AI is gonna replace these people. More efficient anyway.

Certainly a good starting point.
A lot of small businesses will suffer with AI. An audit will get settled in the end, but it'll take a human to understand what a layman is saying about his records during an audit.

 

[utvolpj]

Auditors bring in many times their cost in revenue. Even the thought of an audit helps compliance.

IRS audits the poor at 5 times the rate of everyone else, analysis finds

Taxpayers who earn less than $25,000 are far more likely to get audited by the IRS than wealthier people.

www.cbsnews.com

About 13 tax returns out of 1,000 filed by those earning less than $25,000 were audited in the fiscal year ended September 30, compared with a rate of 2.6 for every 1,000 returns for people with incomes above $25,000, TRAC found.

But please continue explaining about the good work they do

 

[hog88]

That's a good start but with a little effort we could pump that number up.

 

[TNVOLNAVY]

Looks like a good year to make a "honest mistake" on your tax return.

Foolish cut. Auditors bring in many times their cost in revenue. Even the thought of an audit helps compliance.

There’s plenty of chicken plucking, weed whacking, and tomatoes picking jobs waiting for them.

 

[McDad]

i have a folder within grabbing distance with all my 941s going back 7 years. I have received letters from the IRS saying they did not receive the return so frequently, I've learned to keep the info easily accessible. When I reply to the letter the tracking number showing delivery as well as the delivery confirmation, they miraculously find the return.

I have no love lost for the IRS. Burn it to the ground and fire every single person for all I care.

 

[SpaceCoastVol]

I'm thinking AI is gonna replace these people. More efficient anyway.

That's a scary prospect actually.

 

[85SugarVol]

That's a good start but with a little effort we could pump that number up.

31%…

 

[85SugarVol]

i have a folder within grabbing distance with all my 941s going back 7 years. I have received letters from the IRS saying they did not receive the return so frequently, I've learned to keep the info easily accessible. When I reply to the letter the tracking number showing delivery as well as the delivery confirmation, they miraculously find the return.

I have no love lost for the IRS. Burn it to the ground and fire every single person for all I care.

Fukc the IRS

 

[BigOrangeMojo]

IRS audits the poor at 5 times the rate of everyone else, analysis finds

Taxpayers who earn less than $25,000 are far more likely to get audited by the IRS than wealthier people.

www.cbsnews.com

But please continue explaining about the good work they do

Earned Income Tax Credit is by far the most abused section in the tax code.

There are firms that file tens of thousands of fradulent EITC claims each year.

Unlike the Obama admin,which actively looked the other way againat EITC fraud, the Trump admin cracked down on it.

 

[ETV]

There’s plenty of chicken plucking, weed whacking, and tomatoes picking jobs waiting for them.

Shouldn't someone just inform them they need to learn to write code?

 

[BigOrangeMojo]

Wait until tax crook Billy Long leads the IRS. The Senate is even trying to slow play Trump by delaying his confirmation hearing...

 

[Godfatha]

Simplify the tax code, get rid of a lot of the deductions, and you'd need less of them.

 

[BigOrangeMojo]

Simplify the tax code, get rid of a lot of the deductions, and you'd need less of them.

100%. Eliminate the preferences, use AI, and you can eliminate 85% of the IRS.....

 

[MurphyVol]

100%. Eliminate the preferences, use AI, and you can eliminate 85% of the IRS.....

Or go with a 17% national sales tax (30% if you exempt food, medical care and housing) and eliminate 100% of the IRS

Eliminating the IRS would save $16 billion per year. If we could freeze the current national debt and apply this $16 billion towards the principal, we would be debt free as a nation in a little over 2,200 years.

 

[Go aeiou]

Or go with a 17% national sales tax (30% if you exempt food, medical care and housing) and eliminate 100% of the IRS

Eliminating the IRS would save $16 billion per year. If we could freeze the current national debt and apply this $16 billion towards the principal, we would be debt free as a nation in a little over 2,200 years.

So the combined Federal, state, and local sales tax would be about 40% on non exempt items?
Plenty of room for honest and intentional errors with Sales Tax. We would also need the Use Tax. So you need the auditors.
It would greatly cut down on the number of filers if you had a threshold for having to file.

Hey, what's 2200 years?

 

[Orangeburst]

nm

 

[SpaceCoastVol]

Simplify the tax code, get rid of a lot all of the deductions, and you'd need less of them.

Constitutional amendment. 10% of ALL income sources, NO deductions. Done.

 

[BigOrangeMojo]

Constitutional amendment. 10% of ALL income sources, NO deductions. Done.

Like the idea. Unless we significantly cut spending, including defense, it will probably be at least 15-20% to balance budget.

I think it was 12-13% back when we had a balanced budget in the 90s....

 

[McDad]

Like the idea. Unless we significantly cut spending, including defense, it will probably be at least 15-20% to balance budget.

I think it was 12-13% back when we had a balanced budget in the 90s....

America typically collects around 20% of our GDP in taxes. We outspend that by a significant margin.

 

[VAVol85]

I resent the fact that I have to hire someone to prepare my taxes because the IRS rules are so incomprehensible. Maybe if they simplified things a bit they could reduce the burden on taxpayers and auditors.

 

[BigOrangeMojo]

America typically collects around 20% of our GDP in taxes. We outspend that by a significant margin.

I am thinking at the current/proposed spending levels, we would need to be close to 20% flat rate to get close to a balanced budget. This will be a tax increase for 90-95% of Americans so it wont happen.

Taxable income is usually 55-60% of GDP. That means 12% flat rate to replicate same revenue. That's right in ballpark of individual taxes/gross income. Will be lower once you take out certain preferences like medical being pretax but then you will need to almost double your rate to cover current deficit...