I love the bipartisan culture of corruption in Washington.
Billions in Taxes Go Unpaid. Under Trump, the I.R.S. Won’t Say How Much. - The New York Times
Fortunately, there is no statute of limitations on tax fraud. The IRS has infinite time to assess extra taxes and apply a 75% civil fraud penalty. We just need to elect someone with the will to do so.
Give them what they voted for – good and hard
intercst
It will require a new administration to hire a cadre of auditors to go through all those returns. I read that increasing the number of auditors paid something like 10x the salaries of those auditors. That number might be off, but it was many times the salaries of said auditors.
Some estimates put it at 12 to 1. For every 1 dollar of investment, they bring in 12 dollars of additional tax revenue.
IIRC, there is a 10-year window to collect unpaid taxes. Fraud is a different matter.
DB2
They tell us to keep returns for 7 years.
State departments—such as the California Franchise Tax Board (FTB)—often have a much longer collection window, such as 20 years from the date of assessment.