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An IRS audit is those rain day events you hope never will come. For many taxpayers that get audited, a common question is why doesn’t the government go after bigger corporation that have all the budget?
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A recent New York Times article by Bruce Bartlett, ended up being summarized the particular July 15, 2011 publication of the Week magazine, lamented that some high earning Americans paid no Federal income tax es last year, “Millionaires who pay no taxes.” As indicated by Mr. Bartlett, 78,000 U.S. households with incomes between $211,000 and $533,000 paid no income taxes carried out its inaugural year, 24,000 tax filers with incomes from $533,000 to $2.2 million paid no Federal income tax, and 3,000 tax filers with incomes over $2.2 million paid no Federal income taxes. He laments the incontrovertible fact that the tax code has so many credits, tax breaks, and loopholes for that wealthy that some high earners can legally depart without paying in Federal income taxes.
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