And It's Still Not Enough!

[sunny225]

$4.9 TRILLION!! But it's still not enough for them.


www.theepochtimes.com/us/irs-rakes-in-record-4-9-trillion-in-taxes-from-americans-amid-enforcement-crackdown-5552127?utm_source=partner&utm_campaign=BonginoReport

IRS Rakes in Record $4.9 Trillion in Taxes from Americans Amid Enforcement Crackdown

The IRS has collected a record-shattering $4.9 trillion dollars in tax revenue from Americans as it increasingly relies on high tech like AI to boost collection

The Internal Revenue Service (IRS) raked in a record $4.9 trillion in taxes from Americans in the last fiscal year, due in large part to automated collections processes and aggressive audits that saw taxpayers hit with billions in additional taxes after examination.



The Treasury Inspector General for Tax Administration (TIGTA), the watchdog that oversees the IRS, revealed in a Dec. 20 report on tax compliance activities that the agency collected a record-breaking amount of money in fiscal year 2022 from American taxpayers.

The $4.9 trillion the tax agency raked in last year was around $790 billion more than the prior year, thanks in large measure to a significant increase in enforcement revenue.



The IRS collected $72 billion in revenue from its enforcement activities in FY 2022, not far below the record-setting $75 billion in FY 2021 but well above the historical average of around $59 billion (from 2013-2020).
more at link

[Ozarks Tom]

From the article:

When the IRS completes an examination, it can either leave the tax assessment “as is” or it can propose an adjustment (up or down) that increases or reduces the amount of tax owed.

I literally laughed out loud when I read that. Does anyone seriously believe any "adjustment" goes down?

The government reminds me of the woman who as long as she had checks in her checkbook assumed she had money in the bank to cover them. The difference between her and the government is all it takes is a few keystrokes and they cover their overdrafts in an instant.

[joebill]

I knew a guy in Tucson many years ago who thought he had the IRS and all other tax agencies figured out.

He always turned in a tax return showing he owed a few grand that he professed he could not pay, and as long as he seemed to be struggling to pay what he admitted he owed, they never audited him to prove he owed more.

One day, we were drinking coffee in his store and the sales tax folks showed up looking for the previous owner of the business who owed a fortune in sales tax, and Edward just told them the guy was gone without a trace. That ALMOST satisfied them, but on the way out the door one of them asked to see Ed's sales tax license. Ed asked "WHAT sales tax license?"


The guy asked "do you not collect 6% sales tax on every sale?" and he answered "OF COURSE I DO" and the guy asked him what he did with the money and Ed answered "I SPEND IT ON STUFF I NEED....WHAT ELSE?"

The guy was slack jawed, not knowing what to say or do, but then Ed pulled the keys to the store from his pocket and tossed them to the guy and said " HERE! IF YOU WANT IT, IT IS YOURS!"

In the end, the agency pretty much took over his life trying to get paid, but knew that whatever he gave them would be all they would get and no use bugging him for more.

THAT would have scared me to death, but he seemed to be immune from fear...but of course he was one who had no fear of prison, since his everyday life could have not gotten much worse.....Joe