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(Bloomberg) — Jeffrey Gundlach said an Internal Revenue Service agent showed up unannounced at his company’s office in Tampa, Florida, his latest complaint aimed at tax authorities.
The agent showed up for “no legitimate reason,” the DoubleLine Capital co-founder said in a tweet late Tuesday, without providing further details.
Representatives for DoubleLine Capital didn’t respond to requests for comment.
Gundlach moved the main office of his money management arm to Florida after criticizing taxes and the quality of life in California. The outspoken investor joined a slew of other financiers shifting to the Sunshine State from higher-tax regions such as New York, New Jersey and Illinois during the pandemic.
The billionaire has posted several tweets critical of the IRS and the US tax system in recent years, claiming in March that California was trying to “retroactively tax former residents.”
It’s not uncommon for the IRS to audit rich Americans, nor to conduct site visits of businesses, though such enforcement activity has become rarer as the agency’s budget has been squeezed. According to a Government Accountability Office report last year, the chances of an American earning $5 million or more getting audited fell from 16% in 2010 to 2.35% nine years later.
Read more: Gundlach Moves DoubleLine Unit to Tax-Free Florida
The Biden administration last year secured almost $80 billion in extra funding under the Inflation Reduction Act to modernize the agency and step up enforcement on wealthier taxpayers.
“This is our moment in history to transform the IRS,” the agency’s new commissioner, Danny Werfel, declared at his swearing-in ceremony in April.
–With assistance from Ambereen Choudhury.
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