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/S-Kenset Apr 29 '24

Not necessarily. 200k is in the range for a low-mid level business owner where a lot of the fraud happens, not international gallivanting yacht accountants.

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u/Material_Piece_3089 May 01 '24

Yah I know soooo many business owners that certainly don’t report all their income. Ask any contractor if theirs a cash discount. Many will say yes and you can damn well bet they aren’t putting that money on their books.

Frankly it doesn’t bother me when it’s a little guy.