Audits are coming. If you read in the middle of the night like me, you might have read a working paper from the National Bureau of Economic Research (NBER) on the tax paid by the top 1% of households.
The top 1% of households failed to report 21% of their income with six points of that number due to strategies that were so sophisticated that even if that upper-income person’s tax return was randomly audited under the NRP audit, it didn’t detect them within six points of the 21%.
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