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Taxes are for the little people

Thursday, Sep 28, 2023 - Posted by Rich Miller

* Greg Sargent at the Washington Post

Nearly 1,000 tax filers who earn more than $1 million per year have still not filed federal tax returns for at least one year from 2017 to 2020, according to IRS data provided to Senate Finance Committee Chairman Ron Wyden (D-Ore.).

What’s more, the 2,000 people who represent the highest-income non-filers in one or more of those years owe a total of more than $900 million in federal taxes, the data shows.

More excerpts from that IRS report

1,465,067 high-income non-filers for tax years 2017-2020 have not yet satisfied their filing obligations with the IRS. The total amount of unpaid taxes potentially owed by this population is $65.7 billion.

As of May 2023, there were 10,272 high-income non-filers with at least $100,000 balance due looking back to tax year 2017, at least one return reporting adjusted gross income (AGI) of $200,000 or more for Tax Years looking back to 2017, and who had multiple years of unfiled returns between 2015 and 2020. These taxpayers owed $68,658,459,724 in total unpaid assessments (tax, penalties, and interest) as of May 2023. There were 981 high income non-filers in this population with AGI of at least $1 million. These taxpayers owed $34,277,321,852 in total unpaid assessments (tax, penalties, and interest) as of May 2023. There were 58 high income non-filers in this population with AGI of at least $10 million. These taxpayers owed $16,685,980,639 in total unpaid assessments (tax, penalties, and interest) as of May 2023.

SB/SE Collection does not record how many cases have been refereed to DOJ for criminal prosecution, however, we can report that of the 10,272 taxpayers, 154 were under criminal investigation at one time and 31 were in active criminal investigation as of May 2023.

8,729 high-income non-filers for tax years 2017 – 2020 have a potential balance of unpaid taxes in excess of $500,000.

The amount of unpaid taxes owed by the top 100 high-income nonfilers for each tax year 2017 – 2020 (2,000 taxpayers) was $991,124,861 after deducting non-enforcement payments. As noted above, $67,481,404 has been collected, leaving $923,643,457 owed.

Of the top 500 high-income nonfilers for each tax year 2017-2020 (2,000 cases) the IRS has pursued a levy in 27 cases and a lien in 31 cases.

       

12 Comments
  1. - Yellow Dog Democrat - Thursday, Sep 28, 23 @ 12:53 pm:

    === $67,481,404 has been collected, leaving $923,643,457 owed. ===

    Wow, 5% enforcement?


  2. - Benjamin - Thursday, Sep 28, 23 @ 1:11 pm:

    ===Wow, 5% enforcement?===

    Well, a) Republicans keep trying to cut back IRS enforcement, and were successful until recently, and b) those people can afford expensive lawyers and accountants that drag things out.

    It would be fun to see a list of who’s in arrears, but I’m sure that’s private. I wonder how many are from Illinois.


  3. - 47th Ward - Thursday, Sep 28, 23 @ 1:29 pm:

    Maybe this is why the GOP wants to defund the IRS?


  4. - DuPage Saint - Thursday, Sep 28, 23 @ 1:43 pm:

    Since Republicans want a small government maybe the IRS should hire private collection firms. I bet they would collect more than 5%


  5. - illinifan - Thursday, Sep 28, 23 @ 1:44 pm:

    Core reason the Rs do not want IRS to be funded and hire staff. It will help benefit the high rollers. In turn they have successfully marketed the message that these enforcement staff are focused on going after the little guys.


  6. - DEE - Thursday, Sep 28, 23 @ 1:52 pm:

    These are the ‘Job Creators’, so long as the jobs created are not in the IRS


  7. - cermak_rd - Thursday, Sep 28, 23 @ 1:59 pm:

    This is the kind of thing that causes revolution.


  8. - very old soil - Thursday, Sep 28, 23 @ 2:05 pm:

    https://www.rawstory.com/billionaires-have-gotten-2-2-trillion-richer-since-trump-gop-tax-cuts-analysis/


  9. - Sue - Thursday, Sep 28, 23 @ 2:34 pm:

    It’s inexcusable for the IRS to sit on any taxpayer it has knowledge about who hasn’t paid or owes taxes. If the information is sufficient to afford this type of publication- why aren’t all of these people facing enforcement proceedings?


  10. - Norseman - Thursday, Sep 28, 23 @ 3:01 pm:

    Sue, have you missed the MAGA GOP lying campaign launched against the Dems over their efforts to add resources to IRS?

    Protection of the corrupt wealthy is a feature of the MAGA GOP.


  11. - Sue - Thursday, Sep 28, 23 @ 4:30 pm:

    Norseman- your go to answer MAGA- holds no water. If these taxpayers are already known- where is the IRS. BTW- Hunter Biden should be on the list but of course his tax years 2014 -2018 are now beyond the SL


  12. - Yellow Dog Democrat - Friday, Sep 29, 23 @ 5:34 am:

    Sue -

    You think Hunter Biden is one of the 100 richest people in America?

    LOL.

    YDD


Sorry, comments for this post are now closed.


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