Revelations of President Donald Trump’s near-zero federal income tax payments have underscored the ability of wealthy individuals with high-priced lawyers to outmatch an IRS that has long been understaffed and underfunded. A result is that the IRS has tended to pursue taxpayers of modest means more
1 / 2Trump Tax Returns Payback OptionsFILE - In this Friday, Dec. 22, 2017 file photo, President Donald Trump speaks to reporters after signing a tax bill and continuing resolution to fund the government, in the Oval Office of the White House in Washington.
As their staffing and investigative resources have diminished, so have the IRS's overall audits — including of affluent taxpayers. A key reason is that for the past decade, lawmakers in Congress have steadily reduced funding for the agency. Critics say the big winners have been people with the financial resources to keep the IRS at bay.
Story continuesTrump has accused the IRS of unfairly targeting him with audits. He has cited the ongoing audit as the primary reason for his refusal to make his tax returns public, in contrast to every other modern-day president. The IRS will fail to collect nearly $7.5 trillion in taxes owed between 2020 and 2029, according to a study by University of Pennsylvania law professor Natasha Sarin and former Treasury Secretary and Harvard University President Lawrence Summers. They say the agency could shrink that shortfall by more than $1 trillion if it were able to conduct more audits — especially of high earners — gather more information from taxpayers and acquire better technology.
The earned-income tax credit, a refundable credit claimed by taxpayers who earn an average $20,000 a year, is viewed by its proponents as a major anti-poverty tool for working families. IRS data show that people claiming the EITC in 2018 had their tax returns audited at a rate that is 10 times that for taxpayers in the upper income brackets .
The 10 most-audited U.S. counties were 79% nonwhite , and 51% of the taxpayers there claimed the EITC. Led by Denali County, Alaska, the 10 least-audited counties, were 93% white. Only 10% of their taxpayers claimed the low-income credit.
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