Wyden Statement on GAO Report on the Lack of Audits of Large Partnerships

Statement

"Large partnerships are the Wild West of tax compliance. The business structures are extraordinarily complicated, the tax rules that apply to them are riddled with loopholes, and the wealthy investors and corporations who use them to get out of paying a fair share know that the IRS has essentially zero ability to crack down. Congress never intended for large partnerships to become the grand-daddy of all tax loopholes. As a matter of basic fairness, the Congress ought to close these large partnership loopholes that allow investors and corporations to make their taxes simply disappear. And Democrats must protect the IRS's enforcement resources to ensure typical working Americans, whose taxes come straight out of every paycheck, aren't getting ripped off by scofflaws at the top."

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