Category: Tax Evasion

1 Percent Owes Billions in Unpaid Taxes. IRS Must Reclaim It for Infrastructure. | The Smirking Chimp

During the Trump administration, the running not-so-funny joke was that every week was “Infrastructure Week.” Periodically, like a clockwork designed by M.C. Escher, Trump or one of his flapdoodle minions would pop up and announce that a massive overhaul of the nation’s crumbling roads, bridges, airports, subways and water systems was a mere “two weeks” away.

1 Percent Owes Billions in Unpaid Taxes. IRS Must Reclaim It for Infrastructure. | The Smirking Chimp

Top 1% fails to report over 20% of income using potentially “criminal” tactics: IRS analysis | Salon.com

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Why would anyone believe Trump wasn’t one?

The wealthiest 1% of Americans fail to report more than 20% of their income to the IRS, and some of those ultra-rich people use “sophisticated evasion technologies” and criminal tactics to avoid paying their full share, according to a new analysis by researchers at the IRS and economists. The analysis estimated that the top 1% of households fail to report 21% of their income. Nearly a third of that is through sophisticated schemes that random IRS audits fail to detect. The trend is even starker among the top 0.1% of earners, whose unreported income may be twice as high as the IRS estimates.

Top 1% fails to report over 20% of income using potentially “criminal” tactics: IRS analysis | Salon.com

Phoenixing: how unscrupulous dealers rise debt-free from the ashes of failed companies | Australia news | The Guardian

The Australian tax office claims it has been ripped off by as much as hundreds of millions of dollars under mass tax evasion schemes allegedly run by professional advisers

Phoenixing: how unscrupulous dealers rise debt-free from the ashes of failed companies | Australia news | The Guardian

Al Capone didn’t have a Murdoch Fox Defense

 

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Tax evasion: Hundreds of Australians identified in multi-country fraud probe – ABC News (Australian Broadcasting Corporation)

An international probe into millions of dollars’ worth of tax evasion identifies more than 300 Australian suspects.

Source: Tax evasion: Hundreds of Australians identified in multi-country fraud probe – ABC News (Australian Broadcasting Corporation)