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“The finger shouldn’t be pointed at the IRS,” Long told MarketWatch. “It’s not as if they haven’t been telling people there’s a problem.” It’s members of Congress who are at fault for increasingly bare budgets, she said.
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Susan Long, co-director of Syracuse University’s TRAC Research Center and a professor of managerial statistics, told MarketWatch she was not surprised by the recent research.
As a result of a court order that’s been standing for decades, she constantly gets data on what the IRS is — and is not — doing when it comes to audits.
IRS audits on millionaires recouped $1.2 billion in 2020, down from $4.8 billion in 2012, the TRAC Research Center report said, adding that the agency “is letting billions of dollars in tax revenue slip through its fingers because budget and staffing cuts have left the agency incapable of fairly and effectively auditing the 637,212 millionaires now living in the United States.”
“The finger shouldn’t be pointed at the IRS,” Long told MarketWatch. “It’s not as if they haven’t been telling people there’s a problem.” It’s members of Congress who are at fault for increasingly bare budgets, she said.
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