IRS Largely Ignores Super Rich

Via Stephanie Mencimer at Mother Jones: "In 2009, IRS commissioner Doug Shulman said in a speech that the IRS had formed a new group of auditors who were going to be directing their attention at a special group of taxpayers: the super rich. Dubbing them "global high wealth individuals," Shulman promised that his agency would be taking a hard look at people who had tens of millions of dollars worth of assets and income tied up in complicated financial dealings that often involved overseas banking and aggressive tax avoidance strategies...Two-and-a-half years later, though, the effort to target the super rich has proven underwhelming. According to a new study by the Transactional Records Access Clearinghouse (TRAC) at Syracuse University, the IRS has completed a mere 36 audits from the over-$10 million set since launching the global high wealth group...".* The Young Turks host Cenk Uygur breaks it down.


Read more here: http://motherjones.com/mojo/2012/04/s...

Subscribe to The Young Turks: http://bit.ly/eWuu5i

Find out how to watch The Young Turks on Current by clicking here: http://www.current.com/gettyt

The Largest Online New Show in the World.

Google+: http://www.gplus.to/TheYoungTurks

Facebook: http://www.facebook.com/tytnation

Twitter: http://twitter.com/theyoungturks

• Category

  News & Politics