RICH TAX RECORDS LEAKED

Rich tax records leaked. Given all the data leaks that are happening all over the world, it seemed like it was sonly a matter of time before the tax records of the richest Americans would become public. The IRS is now investigating a leak of private tax records of some of the richest Americans. The leaked records from the Internal Revenue Services showed that some of the ultrarich, such as Jeff Bezos, Elon Musk, and George Soros, paid absolutely no federal income tax at all. In certain years, it also compared their wealth growth relative to their taxes paid in an effort to highlight the ways in which they avoided paying higher levels of taxation. IRS Commissioner Charles Rettig addressed the leak during a hearing on the IRS budget. He confirmed that an investigation is underway. He also said the IRS has been largely successful in protecting private data, given the large volume that is exchanged. Rich tax records leaked.

“I can confirm that there is an investigation with respect to the allegations that the source of the information in that article came from the Internal Revenue Service,” Rettig said. “Upon reviewing the article, the appropriate contacts were made as you would expect, and the investigators will investigate.” The Treasury Inspector General for Tax Administration, TIGTA, will lead the investigation. Democratic Sen. Ron Wyden, of Oregon, the chairman of the Senate Finance Committee, also pointed out that it is the IRS’s responsibility to get to the bottom of the leak. If it did get provided to the organization by a source within the news organization group it had originated from.

The release of tax information is a serious violation of law and custom, and the IRS has systems in place to prevent employees from browsing through tax returns. It seems as though everything is in place for a large and though investigation. The only question at this point, is how long will the investigation take to get to the bottom of the leak.