IRS chief tells Elizabeth Warren: More transparent bank data can fight tax evasion | Crypto Craft

  • IRS chief tells Elizabeth Warren: More transparent bank data can fight tax evasion

    From cnbc.com

    The head of the IRS believes more rigorous disclosures from the nation’s banks could help fix a yawning tax gap and recoup billions in owed revenues. In a letter viewed by CNBC, IRS Commissioner Charles Rettig told Sen. Elizabeth Warren, D-Mass., that relying on banks to report basic information about their customers’ deposits and withdrawals could put a big dent in annual tax evasion. A source provided CNBC access to the letter, which is expected to be released Thursday. The source disclosed its contents on condition of anonymity. The IRS chief told Warren in Friday’s letter that years of budget cuts have left ... (full story)

Comment Options
TwoSense
Sep 2, 2021 8:35am
Permalink
The proposed budget bill is giving the IRS $80 BILLION to hire an army of auditors.

Pretty sure we are going to see a lot more middle-class crypto trading Americans getting audited. The bill hasn't passed. Hopefully that $80 bill is spent on something else. I don't think many tax payers want their money going to the IRS.

The IRS needs a budget of $12.3B based on 2020 figures. Let's not give them a penny more.
Reply
BTCmailman
Sep 2, 2021 9:28am
Permalink
"IRS chief tells Elizabeth Warren" I believe this is called a pow-wow

I respect the commitment to the lie that tax revenues matter at all. A simple VAT would solve most of the issues.
Reply
  • Story Stats