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The IRS Is Using AI to Target the Ultra-Wealthy for Tax Violations (gizmodo.com)

submitted 10 months ago by [email protected] to c/[email protected]

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The IRS Is Using AI to Target the Ultra-Wealthy for Tax Violations::The agency is adding AI tools to identify taxpayers who make $1 million and up, and have more than $250,000 in tax evasion.

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[-] [email protected] 12 points 10 months ago

This feels like "the ultra wealthy have already squeezed all the money they can out of the poor and lower middle class, so now they are starting to cannibalize the merely wealthy."

I know the wealthy don't see this directly, but if it keeps the machinery of government running so they can continue to benefit and they can mine it out through subsidies and backroom graft.

I am not saying that these millionaires shouldn't get targeted for not paying their taxes, but the IRS should start at the top and work their way down.

[-] [email protected] 31 points 10 months ago

Did you read the article?

The agency clarified that AI will be used to initiate investigations into 75 of the largest U.S. partnerships that document assets that exceed $10 billion on average.

It will reportedly be used to target hedge funds, real estate investment partnerships, and law firms who may have skirted the rules, amounting to roughly 1,600 taxpayers in total who “owe hundreds of millions of dollars in taxes.”

this post was submitted on 10 Sep 2023

469 points (97.8% liked)

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