Hi,

A new study just revealed that Internal Revenue Service (IRS) audits of
the 1% yield by far the most revenue of any audits they conduct.^1 Every
dollar the IRS spends auditing the super-rich brings in more cash than an
audit of the average taxpayer.

IRS data shows the 1% don’t report nearly a quarter of their income,
estimating that this ultra-wealthy group evades $163 billion worth of
taxes every year.^2 But over the last decade, the number of IRS audits of
people making over $10 million has drastically decreased. It’s time for
the IRS to crack down on the 1% and raise much-needed revenue.

[ [link removed] ]Sign the petition to the IRS: Audit the rich!

ADD YOUR NAME

Republicans have made it a top priority to gut IRS funding for the last
ten years in order to protect the rich. An underfunded IRS makes it easier
for the 1% to lie on their taxes and keep their money hidden. And that’s
what the GOP is counting on, so their rich, corporate donors can remain
shielded from accountability.

But if the IRS focuses its resources on audits that are known to yield the
biggest revenue returns, targeting the ultra-wealthy who are known to
frequently evade $163 billion in taxes every year, the government and the
people win. Revenue from auditing the super-rich can be put towards the
social safety net, housing, economic justice, healthcare, and more.

The study also shows that auditing the ultra-rich has a deterrent effect —
after one audit, the 1% are more likely to pay what they owe in taxes each
successive year.^3 Auditing the rich has a cumulative effect that will
keep bringing in the tax revenue the government is owed.

[ [link removed] ]Add your name: It’s the clear, obvious, data-driven move — the IRS must
audit the rich!

Thanks for taking action,

Tihi and the team at Demand Progress

[ [link removed] ]DONATE

Sources:

 1. Business Insider Mexico, “The IRS could recover $12 for every $1 spent
on scrutinizing the ultra-wealthy’s taxes,” [ [link removed] ]June 19, 2023.
 2. Ibid.
 3. Ibid.
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