IRS budget cuts cost $34.3B in lost revenue from big business

Re:IRS budget cuts cost $34.3B in lost revenue from big busi... by refurb on Tuesday August 20, 2019 @05:23PM (#20752340)

It’s not insane at all. Note that’s AGI - adjusted gross income.

If we stopped auditing those with AGIs less than $25,000, then all I’d have to do is take enough deductions (retirement contributions, unreimbursed business expenses, medical expenses, loss from property sales, tuition, etc) to get my AGI below $25,000 and I’d never have to worry about being audited.

Ever.

One way to significantly reduce your taxes is to lower your AGI. So if anything, the lower AGIs would be a good place to start looking for tax cheats.

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Re:IRS budget cuts cost $34.3B in lost revenue from big busi... by hobs on Tuesday August 20, 2019 @11:07PM (#20754270)

Or we could just NOT use AGI and just use total income or some other metric which doesnt allow this stupidity.

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Re:IRS budget cuts cost $34.3B in lost revenue from big busi... by MyNameIsFred on Tuesday August 20, 2019 @08:36PM (#20753675)

That's an alarming equation. The harder you lie, the less likely you'll be called out on it.

What else in life works that way?

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Re:IRS budget cuts cost $34.3B in lost revenue from big busi... by clarkmoody on Wednesday August 21, 2019 @12:18AM (#20754527)

Politics ;-)

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