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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsObama IRS Audits Millionaires Far More Than Bush IRS
http://www.chicagotribune.com/business/breaking/chi-irs-audits-1-in-8-millionaires-20120106,0,5356600.storyIRS audits 1 in 8 millionaires
From CNN
6:31 a.m. CST, January 6, 2012
The IRS audited one out of every 8 millionaires last year, the third year in a row the agency has ramped up its enforcement of the nation's top earners.
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http://www.good.is/post/obama-irs-audits-millionaires-far-more-than-bush-irs/
April 25, 2011 4:30 pm PDT
In March 2009, a New York Times article noted that the IRS audited only about four of every 100 millionaires in the year 2008this was despite the fact that there were more millionaires than ever that year. Three years and a different president later, that's changed quite a bit.
tblue
(16,350 posts)I got audited once when I made $13K. Craziness.
kestrel91316
(51,666 posts)It was 5 or 6 years ago, and covered I think 2001, 2002, 2003. I had an inheritance and invested a lot of it in my business. IRS couldn't figure out how I was living on so little money, and basically tried to disallow 100% of the expenses in running my veterinary hospital.
After a whole big brouhaha and a huge expenditure on their part (staff time and energy) they found basically nothing amiss. I had an error in how I accounted for credit card interest that cost me $1000. They had egg on their faces.
IMHO I was targeted on some list because I was so vocally anti-Bush. I knew lots of other cash-poor liberals that got audited the same time.
ETA: The IRS agent who came to my office to audit kept shaking his head and asking why they were auditing me, and basically left apologizing.
banned from Kos
(4,017 posts)very good.
Whisp
(24,096 posts)then give it to Goldman Sachs so they can give it back to him for setting up the Consumer Protection Bureau and Dodd/Frank!
just thought I'd get the jump on this.
banned from Kos
(4,017 posts)sent here to pull the guts out of everyone in the working class on behalf of the banksters!
Whisp
(24,096 posts)I kid you not, I heard it here! wish I kept it
Dewey Finn
(176 posts)"bankster"?
FrenchieCat
(68,867 posts)His mother was a Feminist pioneer!
Whisp
(24,096 posts)in poverty stricken villages in Indonesia.
how's that for an evil banker?
Scurrilous
(38,687 posts)MineralMan
(146,329 posts)That's a smart move, I think.
great white snark
(2,646 posts)Wonder how FDL will spin this. "Seven out of every eight millionaires not audited under Obama."