The taxes of high-income individuals, and whether or not they pay their fair share — it’s a “hot” topic you have heard numerous times.
What you may not be familiar with: the top 1 percent, when audited, gets a “special” treatment from IRS.
The wealthy have their own department within the IRS.
It’s called, “The Wealth Squad.”
The agents of the Squad are specially trained to deal with private foundations, trusts, hedge funds and private equity, multi-tiered partnerships, and other complex tax situations. Whether U.S. or foreign based.
(Incidentally, the British have a similar squad — and they seem to use it quite effectively.)
Your own Wealth Squad
If your goal is to work hard and someday be part of the top percentile, the Squad is certainly not something to look forward to.
However, looking at it from a different angle: you know you’ve “arrived” when you have your own Wealth Squad.
Wishing you success in all you do.
Thanks for visiting.