The Top 0.5% Underpay $50 Billion a Year In Taxes and Crushed the IRS Plan to Stop Them — ProPublica

The Top 0.5% Underpay $50 Billion a Year In Taxes and Crushed the IRS Plan to Stop Them – ProPublica

On June 30, 2016, an auto-parts magnate received the kind of news anyone would dread: The Internal Revenue Service had determined he had engaged in abusive tax maneuvers. He stood accused of masking about $5 billion in income. The IRS wanted over $1.2 billion in back taxes and penalties.