Technology

59311 readers

5850 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

461

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

submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

34 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] first_must_burn@lemmy.world 12 points 1 year ago (1 children)

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.

[–] hedgehog@ttrpg.network 31 points 1 year 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.”