For years, the company has moved billions in profits to Puerto Rico to avoid taxes. When the IRS pushed it to pay, Microsoft protested that the agency wasn't being nice. Then it aggressively fought back in court, lobbied Congress and changed the law.
Microsoft and Google, now valued at around a trillion dollars each, dodge paying taxes by manufacturing a fake sale of their intellectual property to subsidiaries in tax havens to declare their profits abroad https://t.co/OHLKv3TQlu-- Lee Fang (@lhfang) January 22, 2020
"Last year, the company's allies succeeded in changing the law, removing or limiting tools the IRS team had used against the company. The IRS, meanwhile, has become notably less bold. Drained of resources by years of punishing budget cuts, the agency has largely retreated from challenging the largest corporations."
The goal of the GOP congress is to kill off the enforcement division of the IRS who cannot go up against multi million dollar law and accounting firms. Meanwhile the IRS is stepping up enforcement actions against low middle income taxpayers who cannot afford the consultants and attorneys the 1% can.
The 1% pay less and everyone else pays more.
-Meanwhile the IRS is stepping up enforcement actions against low middle income taxpayers who cannot afford the consultants and attorneys the 1% can.
all income levels are being audited less. The wealthiest see the biggest drop but no income class is experiencing "stepping up enforcement actions"
"...no income class is experiencing "stepping up enforcement actions"
That's only due to the lag time for audits; they're still working with the old code (2017). Starting with TY2018, there will be three areas left to audit: the rich, the poor, and the self-employed. The IRS has admitted it can't afford to audit the rich.
Thank you Citizens United. Corporations now call the shots. I wonder when they will be the only ones who get to vote.
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