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(The Big Story)   While the IRS is busy cracking down on the Tea Party and enforcing Obamacare, it continues to neglect to ensure compliance from small, insignificant players in the economy, like hedge funds and private equity   (bigstory.ap.org) divider line 35
    More: Obvious, IRS, obamacare, tea party, compliance, private equity, negligence, Carl Levin, equity funds  
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566 clicks; posted to Politics » on 18 Apr 2014 at 3:44 PM (22 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



35 Comments   (+0 »)
   
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2014-04-18 03:41:15 PM
This is a stupid article and I'll tell you why.

Sure, the IRS is auditing less than 1% of large partnerships sounds like an impressive "OMG, the IRS is looking out for the 1%" statistic, but when you consider the fact that the IRS also audited less than 1% of all individual tax returns in the last year in general, that first factoid seems a lot less impressive and bombastic.

Last year, the IRS audited less than 1% of all returns from individuals, the lowest rate since 2005. This year, Koskinen said, "The numbers will go down."
http://www.usatoday.com/story/money/personalfinance/2014/04/13/chanc es -of-getting-audited-by-irs-lowest-in-years/7669319/

The reason why so few audits are taking place is because the IRS's budget has been slashed repeatedly in the last few years and they simply don't have the resources to audit effectively anymore.
 
2014-04-18 03:47:48 PM

RexTalionis: This is a stupid article and I'll tell you why.

Sure, the IRS is auditing less than 1% of large partnerships sounds like an impressive "OMG, the IRS is looking out for the 1%" statistic, but when you consider the fact that the IRS also audited less than 1% of all individual tax returns in the last year in general, that first factoid seems a lot less impressive and bombastic.

Last year, the IRS audited less than 1% of all returns from individuals, the lowest rate since 2005. This year, Koskinen said, "The numbers will go down."
http://www.usatoday.com/story/money/personalfinance/2014/04/13/chanc es -of-getting-audited-by-irs-lowest-in-years/7669319/

The reason why so few audits are taking place is because the IRS's budget has been slashed repeatedly in the last few years and they simply don't have the resources to audit effectively anymore.


So, GOP plan #1532, is to sabotage government efforts through defunding via congressional efforts and then blame that same government for failing afterward. Again.
 
2014-04-18 03:54:11 PM

Infernalist: RexTalionis: This is a stupid article and I'll tell you why.

Sure, the IRS is auditing less than 1% of large partnerships sounds like an impressive "OMG, the IRS is looking out for the 1%" statistic, but when you consider the fact that the IRS also audited less than 1% of all individual tax returns in the last year in general, that first factoid seems a lot less impressive and bombastic.

Last year, the IRS audited less than 1% of all returns from individuals, the lowest rate since 2005. This year, Koskinen said, "The numbers will go down."
http://www.usatoday.com/story/money/personalfinance/2014/04/13/chanc es -of-getting-audited-by-irs-lowest-in-years/7669319/

The reason why so few audits are taking place is because the IRS's budget has been slashed repeatedly in the last few years and they simply don't have the resources to audit effectively anymore.

So, GOP plan #1532, is to sabotage government efforts through defunding via congressional efforts and then blame that same government for failing afterward. Again.


Isn't the official GOP motto "Government doesn't work; elect us and we'll prove it"?
 
2014-04-18 03:55:13 PM

RexTalionis: Sure, the IRS is auditing less than 1% of large partnerships sounds like an impressive "OMG, the IRS is looking out for the 1%" statistic, but when you consider the fact that the IRS also audited less than 1% of all individual tax returns in the last year in general, that first factoid seems a lot less impressive and bombastic.


It'd be worth it if every super rich person or fund had their own group of auditors and investigators checking things every year, you audit 1% of middle class people putting in too much mileage or clothing allowance and you get back a few hundred bucks but these guys could be hiding millions each. If they only have the budget for a small number of audits they should all be of these very wealthy individuals and funds.
 
2014-04-18 03:57:43 PM
I hope subby is just kidding, but there is a large number of 'baggers who still think Obama is personally directing the IRS to target conservatives.  The more evidence you show them that it's not true, the more you convince them that the conspiracy is even larger than they thought.  Idiots.
 
2014-04-18 03:57:47 PM

Infernalist: RexTalionis: This is a stupid article and I'll tell you why.

Sure, the IRS is auditing less than 1% of large partnerships sounds like an impressive "OMG, the IRS is looking out for the 1%" statistic, but when you consider the fact that the IRS also audited less than 1% of all individual tax returns in the last year in general, that first factoid seems a lot less impressive and bombastic.

Last year, the IRS audited less than 1% of all returns from individuals, the lowest rate since 2005. This year, Koskinen said, "The numbers will go down."
http://www.usatoday.com/story/money/personalfinance/2014/04/13/chanc es -of-getting-audited-by-irs-lowest-in-years/7669319/

The reason why so few audits are taking place is because the IRS's budget has been slashed repeatedly in the last few years and they simply don't have the resources to audit effectively anymore.

So, GOP plan #1532, is to sabotage government efforts through defunding via congressional efforts and then blame that same government for failing afterward. Again.


They will also continue to press the narrative that The Gubment is taking away ranchers cattle, farmers stock ponds, and baseball bleachers.
 
2014-04-18 03:59:16 PM
We have given the IRS so many things to do that we should now bite the bullet and quadruple their budget.  Really it's the only way to restore sanity because if a place is understaffed, the first thing to go is it's Internal affairs and investigation division.
 
2014-04-18 03:59:51 PM
 
2014-04-18 04:00:09 PM

Headso: RexTalionis: Sure, the IRS is auditing less than 1% of large partnerships sounds like an impressive "OMG, the IRS is looking out for the 1%" statistic, but when you consider the fact that the IRS also audited less than 1% of all individual tax returns in the last year in general, that first factoid seems a lot less impressive and bombastic.

It'd be worth it if every super rich person or fund had their own group of auditors and investigators checking things every year, you audit 1% of middle class people putting in too much mileage or clothing allowance and you get back a few hundred bucks but these guys could be hiding millions each. If they only have the budget for a small number of audits they should all be of these very wealthy individuals and funds.


In theory you're right, but wealthy people don't like being audited.
 
2014-04-18 04:03:10 PM

dwrash: Or AL Sharpton.. http://www.nbcnews.com/id/24545747/ns/us_news-crime_and_courts/t/shar p ton-owes-nearly-million-back-taxes/#.U1GEG_ldUk0


Article from 6 years ago. Topical. That being said, it looks like they are trying to ensure compliance from him, so... what's your point? Besides yelling "SQUIRREL!" and hoping we'll look the other way?
 
2014-04-18 04:03:52 PM

dwrash: Or AL Sharpton.. http://www.nbcnews.com/id/24545747/ns/us_news-crime_and_courts/t/shar p ton-owes-nearly-million-back-taxes/#.U1GEG_ldUk0


Ha! When was Al Sharpton relevant except as a target for Fox?
 
2014-04-18 04:07:56 PM

dwrash: Or AL Sharpton.. http://www.nbcnews.com/id/24545747/ns/us_news-crime_and_courts/t/shar p ton-owes-nearly-million-back-taxes/#.U1GEG_ldUk0


"b-b-b-b-but -"

Very clever, dude
 
2014-04-18 04:13:52 PM

Car_Ramrod: Isn't the official GOP motto "Government doesn't work; elect us and we'll prove it"?


As opposed to the Democrat motto, "Government works; elect us and you'll get more of it than you ever wanted or even imagined possible."
 
2014-04-18 04:15:28 PM

jjorsett: Car_Ramrod: Isn't the official GOP motto "Government doesn't work; elect us and we'll prove it"?

As opposed to the Democrat motto, "Government works; elect us and you'll get more of it than you ever wanted or even imagined possible."


Keep pushing that narrative. I'm waiting to see what next weeks cause is.

Probably puppies.
 
2014-04-18 04:16:16 PM

Lionel Mandrake: I hope subby is just kidding, but there is a large number of 'baggers who still think Obama is personally directing the IRS to target conservatives.  The more evidence you show them that it's not true, the more you convince them that the conspiracy is even larger than they thought.  Idiots.


Anyone paying attention knows that he couldn't possibly have been directing that complex an undertaking from a golf course.
 
2014-04-18 04:18:30 PM

jjorsett: As opposed to the Democrat motto, "Government works


Well at least in that regard you're hiring people to work at something they actually believe is able to function. With the GOP it's like hiring the unabomber to be your CTO.
 
2014-04-18 04:19:01 PM

jjorsett: Lionel Mandrake: I hope subby is just kidding, but there is a large number of 'baggers who still think Obama is personally directing the IRS to target conservatives.  The more evidence you show them that it's not true, the more you convince them that the conspiracy is even larger than they thought.  Idiots.

Anyone paying attention knows that he couldn't possibly have been directing that complex an undertaking from a golf course.


That talking point had a lot more legs before Boehner and his 100 rounds a year came along.

I don't begrudge him that either. He looks to be a fine player and a legit single digit handicap.
 
2014-04-18 04:20:39 PM

MFAWG: jjorsett: Car_Ramrod: Isn't the official GOP motto "Government doesn't work; elect us and we'll prove it"?

As opposed to the Democrat motto, "Government works; elect us and you'll get more of it than you ever wanted or even imagined possible."

Keep pushing that narrative. I'm waiting to see what next weeks cause is.

Probably puppies.


I think the While House playbook has the War On Illegal Immigrant Women's Equal Pay issue slotted for next week.
 
2014-04-18 04:20:40 PM

jjorsett: Lionel Mandrake: I hope subby is just kidding, but there is a large number of 'baggers who still think Obama is personally directing the IRS to target conservatives.  The more evidence you show them that it's not true, the more you convince them that the conspiracy is even larger than they thought.  Idiots.

Anyone paying attention knows that he couldn't possibly have been directing that complex an undertaking from a golf course.


What are, 12 years old, maybe?

/no offense meant to 12 year-olds
 
2014-04-18 04:22:27 PM
The number of IRS employees has been falling steadily since the Clinton administration. Meanwhile, the population has grown and there are more taxpayers and corporations to monitor. This is our wonderful both sides are bad government at work.
 
2014-04-18 04:23:57 PM

jjorsett: MFAWG: jjorsett: Car_Ramrod: Isn't the official GOP motto "Government doesn't work; elect us and we'll prove it"?

As opposed to the Democrat motto, "Government works; elect us and you'll get more of it than you ever wanted or even imagined possible."

Keep pushing that narrative. I'm waiting to see what next weeks cause is.

Probably puppies.

I think the While House playbook has the War On Illegal Immigrant Women's Equal Pay issue slotted for next week.


Week before last was bleachers, last week was stock pond, this week was ranchers.

See the pattern?
 
2014-04-18 04:50:02 PM

jjorsett: Car_Ramrod: Isn't the official GOP motto "Government doesn't work; elect us and we'll prove it"?

As opposed to the Democrat motto, "Government works; elect us and you'll get more of it than you ever wanted or even imagined possible."


replygif.net
God, you're boring.
 
2014-04-18 05:19:34 PM

Car_Ramrod: Infernalist: RexTalionis: This is a stupid article and I'll tell you why.

Sure, the IRS is auditing less than 1% of large partnerships sounds like an impressive "OMG, the IRS is looking out for the 1%" statistic, but when you consider the fact that the IRS also audited less than 1% of all individual tax returns in the last year in general, that first factoid seems a lot less impressive and bombastic.

Last year, the IRS audited less than 1% of all returns from individuals, the lowest rate since 2005. This year, Koskinen said, "The numbers will go down."
http://www.usatoday.com/story/money/personalfinance/2014/04/13/chanc es -of-getting-audited-by-irs-lowest-in-years/7669319/

The reason why so few audits are taking place is because the IRS's budget has been slashed repeatedly in the last few years and they simply don't have the resources to audit effectively anymore.

So, GOP plan #1532, is to sabotage government efforts through defunding via congressional efforts and then blame that same government for failing afterward. Again.

Isn't the official GOP motto "Government doesn't work; elect us and we'll prove it"?


I have always found this to be paradoxical. Republicans are part of the government, but they claim small government is better. Basically shrinking the very establishment they work for. Making their participation in gubment a bit of an oxymoron.

Doesn't really matter anyway both parties are pawns, everything is doomed, Illuminati control everything, 666.
 
2014-04-18 05:24:20 PM

jjorsett: Anyone paying attention knows that he couldn't possibly have been directing that complex an undertaking from a golf course.


Seriously? You're pushing the old tired lie that Obama takes a lot of vacation time?
i.chzbgr.com
 
2014-04-18 05:25:20 PM

KillaChinchilla: Doesn't really matter anyway both parties are pawns, everything is doomed, Illuminati

reverse vampires control everything, 666.
 
2014-04-18 06:05:43 PM
The number of audits each person or entity gets should be proportional to the ability to crash the economy.

Too big to fail - audit every year.
Super big but allowed to fail - audit every 5. Years on average
50% er - audited once every 100 years on average.

50% er audits that don't turn up anything wrong, the irs has to simplify the tax code by removing 10 pages.
 
2014-04-18 06:56:46 PM
It's really aggravating when people you have favorited and genuinely enjoy reading comments from, fall for the bait and respond to trolls they should have favorited!ed years ago.
 
2014-04-18 07:29:37 PM

AmbassadorBooze: Too big to fail - audit every yearbreak that sumbitsch up.


Too big to fail is too big to live.
 
2014-04-18 08:50:40 PM

Car_Ramrod: Infernalist: RexTalionis: This is a stupid article and I'll tell you why.

Sure, the IRS is auditing less than 1% of large partnerships sounds like an impressive "OMG, the IRS is looking out for the 1%" statistic, but when you consider the fact that the IRS also audited less than 1% of all individual tax returns in the last year in general, that first factoid seems a lot less impressive and bombastic.

Last year, the IRS audited less than 1% of all returns from individuals, the lowest rate since 2005. This year, Koskinen said, "The numbers will go down."
http://www.usatoday.com/story/money/personalfinance/2014/04/13/chanc es -of-getting-audited-by-irs-lowest-in-years/7669319/

The reason why so few audits are taking place is because the IRS's budget has been slashed repeatedly in the last few years and they simply don't have the resources to audit effectively anymore.

So, GOP plan #1532, is to sabotage government efforts through defunding via congressional efforts and then blame that same government for failing afterward. Again.

Isn't the official GOP motto "Government doesn't work; elect us and we'll prove it"?


It's the definition of Republican: Someone who says government is bad, then gets elected and proves himself right.
 
2014-04-18 10:06:55 PM

RexTalionis: This is a stupid article and I'll tell you why.

Sure, the IRS is auditing less than 1% of large partnerships sounds like an impressive "OMG, the IRS is looking out for the 1%" statistic, but when you consider the fact that the IRS also audited less than 1% of all individual tax returns in the last year in general, that first factoid seems a lot less impressive and bombastic.

Last year, the IRS audited less than 1% of all returns from individuals, the lowest rate since 2005. This year, Koskinen said, "The numbers will go down."
http://www.usatoday.com/story/money/personalfinance/2014/04/13/chanc es -of-getting-audited-by-irs-lowest-in-years/7669319/

The reason why so few audits are taking place is because the IRS's budget has been slashed repeatedly in the last few years and they simply don't have the resources to audit effectively anymore.


Actually, auditing 1% sounds like quite a lot to me.

As for auditing one type of entity over another, they should audit where the money is.  That's generally not individuals.
 
2014-04-18 10:18:26 PM

IlGreven: It's the definition of Republican: Someone who says government is bad, then gets elected and proves himself right.


"The Democrats are the party that says government will make you smarter, taller, richer, and remove the crabgrass on your lawn.  Republicans are the party that says government doesn't work, and then they get elected and prove it." -- P. J. O'Rourke, Parliament of Whores
 
2014-04-18 11:02:31 PM

Lee Jackson Beauregard: "The Democrats are the party that says government will make you smarter, taller, richer, and remove the crabgrass on your lawn. Republicans are the party that says government doesn't work, and then they get elected and prove it." -- P. J. O'Rourke, Parliament of Whores


Yeah, O'Rourke has the hipster cred for "both sides are bad" before it was cool.

Even with that phrasing, I still don't understand why someone wouldn't vote for the former.
 
2014-04-19 02:39:59 AM

jjorsett: Car_Ramrod: Isn't the official GOP motto "Government doesn't work; elect us and we'll prove it"?

As opposed to the Democrat motto, "Government works; elect us and you'll get more of it than you ever wanted or even imagined possible."


Sorry bro, the Democrat's slogan is "government works; trust us, we'll try not to fark it up again, promise"
 
2014-04-19 07:45:47 AM

RexTalionis: This is a stupid article and I'll tell you why.

Sure, the IRS is auditing less than 1% of large partnerships sounds like an impressive "OMG, the IRS is looking out for the 1%" statistic, but when you consider the fact that the IRS also audited less than 1% of all individual tax returns in the last year in general, that first factoid seems a lot less impressive and bombastic.

Last year, the IRS audited less than 1% of all returns from individuals, the lowest rate since 2005. This year, Koskinen said, "The numbers will go down."
http://www.usatoday.com/story/money/personalfinance/2014/04/13/chanc es -of-getting-audited-by-irs-lowest-in-years/7669319/

The reason why so few audits are taking place is because the IRS's budget has been slashed repeatedly in the last few years and they simply don't have the resources to audit effectively anymore.


Yes, this was acknowledged in TFA:

"Since Fiscal 2010, the IRS budget has been reduced by nearly $900 million," the service said in a statement. "The IRS has about 10,000 fewer employees than in 2010, affecting our work across our taxpayer service and enforcement categories. Last year, we had 3,100 fewer people in our key enforcement positions than in 2010."
Overall, the IRS audited fewer than 1 percent of returns by individuals last year, though the chances of getting audited increased with income, according to IRS statistics.


TFA also mentions this though: The GAO report says the audit rate for large partnerships has been low since at least 2007.
 
2014-04-19 07:47:08 AM
You want to balance the budget?  Money to the IRS for enforcement more than pays for itself.
 
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