I’ve read this article a little while back, but apparently I didn’t save it. It is a very interesting article about how the IRS tried to take on the ultra-rich, it didn’t go well. Namely, the case of Georg Schaeffler, “the billionare scion of a family-owned German” auto parts manufacturer, who was working quietly as a corporate lawyer, until some complications happened with the purchase of Continental AG that nearly caused the him to loose it all. A highly creative debt restructuring came under the suspicion of the IRS as a tax evasion strategy.
20191110/https://www.propublica.org/article/ultrawealthy-taxes-irs-internal-revenue-service-global-high-wealth-audits