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Just like my last thread, this one brings more concerning news, regarding our favorite government agency. According to this article, the agency has reduced its auditors by 25%, from 13k to 10k, in the past 6 years due to $900 million in budgets cuts over those years. As a result, the IRS recovered way less from audits since 2010. It dropped from $16 billion in 2010 to $9 billion last year. That's definitely a hefty loss. Now let's think about how much a recent executive proposal of cutting the funding further by $239 million will do. Yeesh...
Of course, some of us are thinking that we could all use a little bit a of a break from the tax baby sitter. If you think about it though, what unpaid taxes slip through the cracks only has us paying more later. It all comes out in the wash anyway. Also, this loss of vigilance really only benefits the rich who'd rather not pay as much or at all.
Like the article said:
"the government is forgoing billions to achieve budget savings of a few hundred million dollars."
Where's a sober accountant when you need one?