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Natasha Sarin Profile picture
Natasha Sarin
@NatashaRSarin
Counselor (tax policy and implementation) at @USTreasury; On leave as Professor @PennLaw & @Wharton.
Apr 9 • 7 tweets • 2 min read
New analysis from @The_Budget_Lab:

The IRS is entering into an agmt to share data about undocumented immigrants with ICE. Historically, the agency promised data would not be used in this way.

We estimate the govt will lose ~$300B in the next decade as a result. Why? Today, undocumented immigrants pay about $66B in federal taxes, w/ about 2/3 as payroll taxes.

As a result of this agreement, this population will worry about tax data being weaponized – and could stop filing taxes and/or shift to work arrangements that won’t withhold.
Oct 12, 2021 • 4 tweets • 2 min read
There is a whole lot of misinfo about the bank reporting proposals under consider, that @SecYellen clears up here:

One imp one: Those protecting $$ evaders push myth this proposal means IRS will see every transaction above $600 in all bank accounts

That is completely false. Proposal under consideration actually adds a bit of addl info to existing reports that fin institutions *already provide* to IRS.

On TOTAL money flowing into accounts, and TOTAL money flowing out.

No personal transaction details whatsoever.
Nov 16, 2020 • 7 tweets • 3 min read
Over the last decade, audit rates have fallen most for the very richest Americans.

The result?

Less tax revenue and a more unequal tax system.

My latest in @bopinion

bloomberg.com/opinion/articl…

A thread: IRS has been gutted in the last decade, the result of a partisan attack on the agency.

Budget is down 15% in real terms, workforce down 20%

Attrition highest for revenue agents capable of examining complex returns of the wealthy--like @realDonaldTrump
Sep 28, 2020 • 7 tweets • 3 min read
This is 1000% true.

The IRS has been gutted in the last decade, and the beneficiaries are the ultra-wealthy like President Trump.

A thread: Audit rates for millionaires are down 75% in the last decade

Today, you are as likely to be audited if you are in the top 1% as if you are on the EITC

The result is a tax system that facilitates the kind of illegal games Trump has been playing for decades