Democrats pounce on latest tax perk for the rich: falling audit rates ...Middle East

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A new report from the government’s internal watchdog found that richer taxpayers are benefitting the most from a broader decline in audit rates by the IRS, adding impetus to criticism that the U.S. tax system favors the wealthy, and possibly bolstering a White House push to increase taxes on the wealthy. During the 2010s, audit rates of individual income tax returns have fallen an average of 72 percent across all income levels and tax brackets. That means that while taxpayers had about a 1 percent chance of being audited in 2010, they had about a 0.25 percent chance of being audited in 2019. But that 72-percent drop hasn’t been evenly distributed. People earning less than $25,000 we

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Last updated : 19 May 2022 clock 02:06 AM

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Democrats pounce on latest tax perk for the rich: falling audit rates ...Middle East

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