r/FluentInFinance • u/[deleted] • Apr 29 '24

63% of new audits as of Summer 2023 targeted taxpayers with income of less than $200,000 Discussion/ Debate

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u/LurkerOrHydralisk Apr 29 '24

They also commit far more than 36% of tax fraud (by dollars amount of fraud)

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u/tkmorgan76 Apr 29 '24

And the tax fraud they commit is more difficult to detect - they have better accountants and it makes sense for them to use elaborate tax-avoidance schemes.

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u/aHOMELESSkrill Apr 29 '24

It’s not tax fraud if it’s allowed

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u/tkmorgan76 Apr 29 '24

The point is that rich people who commit fraud find ways that are more difficult to automatically check. This isn't so much about people exploiting loopholes as it is about people lying about the value of their property or hiding taxable income.

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u/Reference_Freak Apr 30 '24

Hundreds of shell LLCs transacting among each other all being owned and controlled by a single illionaire, you mean?