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A report from the Transactional Records Access Clearinghouse (TRAC), a data gathering, data research and data distribution organization at Syracuse University, shows that IRS budget cuts cost the U.S. government billions in tax revenue each year.
At a time when Americans face growing economic inequality and financial hardship caused by the COVID-19 pandemic, the IRS 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.
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