New report from US Treasury finds that in 2017,banks filed currency transaction reports for over 5,000 people who deposited at least $100k - totaling over $1.9 billion - but despite handling tons of $$$, none of those customers filed income tax that year

https://www.treasury.gov/tigta/auditreports/2020reports/202030055fr.pdf

It also finds that the IRS has been incorrectly importing data from FinCEN's systems, resulting in missing and improperly-aggregated data, or data with the wrong year assigned

awkward

This highlights how, even in an `advanced' country like the US, linking up reporting systems so the tax authority can audit the right people is *hard*

worth keeping in mind as third party (even intra-governmental) reporting becomes more popular in other countries