> A bipartisan Senate panel estimated in 2014 that Medallion investors underpaid their taxes by some $6.8 billion over more than a decade by masking short-term

> A bipartisan Senate panel estimated in 2014 that Medallion investors underpaid their taxes by some $6.8 billion over more than a decade by masking short-term gains as long-term returns. Holy shit. That 10 year number is the equivalent of the NSF’s entire budget. [0] This is t an accident. It’s criminal. And it’s not a surprise given that IRS enforcement has been declining over a decade and focusing on small taxpayers rather than wealthy individuals and corporate tax payers.[1] [0] https://www.nsf.gov/about/budget/fy2018/ https://www.nsf.gov/about/budget/fy2018/ [1] https://www.propublica.org/article/earned-income-tax-credit-irs-audit-working-poor https://www.propublica.org/article/earned-income-tax-credit-...