The IRS Is Finally Cracking Down on Wealthy Taxpayers Skirting the Law

Excellent post. Thank You for sharing this Colonel. This should've been done because even though that individual makes a certain amount of money every year, doesn't make them necessarily exempt from paying taxes.

LTC Eugene Chu
..."Prior to the Inflation Reduction Act, more than a decade of budget cuts prevented IRS from keeping pace with the increasingly complicated set of tools that the wealthiest taxpayers use to hide their income and evade paying their share,” the agency said in a Friday news release. “The IRS is now taking swift and aggressive action to close this gap.”

Already, the IRS says its beefed-up enforcement on millionaires and other high-income earners has generated $38 million in extra revenue. The agency appears to be focusing on a small group of ultra-wealthy Americans who it says are using schemes in Puerto Rico and Malta to avoid paying what the taxes they owe.

“These are particularly egregious cases where instead of filing their taxes and paying their fair share, these people used the money to make lavish purchases,” the IRS says, noting one instance where a millionaire used the money owed to the IRS to instead buy a Maserati and a Bentley."...

LTC Eugene Chu About Bloody Time! Sounds Like they've Nailed Hunter Biden and are in the Process of Nailing Donald Trump.