News for hackers. Stuff that matters.

A comment on The Double Irish Dutch Sandwich: End of a Tax Evasion Strategy. Parent comment

Re:The Double Irish Dutch Sandwich: End of a Tax Evasion Str... by nabla9 on Tuesday September 17, 2024 @05:48PM (#41573211)
Improving IRS tax collection enforcement could generate significant funds

In fiscal year 2021 the IRS managed more than $4.1 trillion in tax revenue. The annual tax gap was estimated at $688 billion in 2021, with $625 billion remaining uncollected even after enforcement efforts.

16.7 percent.

[ Parent | on HN ]
Re:The Double Irish Dutch Sandwich: End of a Tax Evasion Str... by intuitionist on Tuesday September 17, 2024 @06:36PM (#41573616)
So collecting all those extra taxes would cover somewhere south of 25% of the budget deficit for 2021. You aren’t wrong, but the parent isn’t wrong either.
[ Parent | on HN ]
Re:The Double Irish Dutch Sandwich: End of a Tax Evasion Str... by yieldcrv on Tuesday September 17, 2024 @06:02PM (#41573342)
and you don’t realize that this proves my point?

~$5.3 trillion doesn't solve the US’ budget holes, while the US government tells you what transactions to make to not be taxed

[ Parent | on HN ]
Re:The Double Irish Dutch Sandwich: End of a Tax Evasion Str... by fwip on Wednesday September 18, 2024 @12:29PM (#41581999)
That's the amount of taxes that companies/people legally owe but don't pay (and are collectable).

It's not really related to the amount of taxes that are legally avoided by big businesses through techniques like this "double Irish Dutch sandwich."

[ Parent | on HN ]
Re:The Double Irish Dutch Sandwich: End of a Tax Evasion Str... by yieldcrv on Wednesday September 18, 2024 @12:37PM (#41582127)
I’m aware

What is your preferred outcome?

[ Parent | on HN ]
Re:The Double Irish Dutch Sandwich: End of a Tax Evasion Str... by fwip on Wednesday September 18, 2024 @04:51PM (#41585316)
I'm not sure that my preferred outcome is relevant to what the other person meant, but I would like a simpler tax structure and higher-than-current effective rates for wealthy entities.
[ Parent | on HN ]