Want to be a Millionaire? Not When the Taxman's Involved

Expanding on an Article from Forbes.com, I agree that being a Millionaire isn't a cure-all for your problems. If you like to live a life without the IRS complicating your financial issues, maybe you're better off will a humble income.

The Taxman Wants His Cut

The amount of tax you'll need to pay for federal and state taxes will increase when you become a millionaire. If you refuse to pay, realize that the IRS comes after the high earners first when it comes to collections. You won't be able to hide.

No more Offshore Accounts

The IRS has a new enforcement unit for high earning individuals with complex financial situations. This unit is called the "Global High Wealth Industry Group." They'll watch your finances closely. Don't even think of getting away with any sneaky business.

Random Audits

In-line with all of the new IRS Provisions this year, you can expect randomized Audits to increase in years to come as the IRS strives to make examples out of High Earners and businesses that try to cheat the tax laws.

The Big Team of Tax Advisers

Once you're in the higher income bracket you'll need help for preparing your taxes. You'll might need a tax attorney, accountant or accountants, CPAs or more. The more people you have on your team, the more risk you have for something going wrong.

Sometimes it's nice to know that the grass isn't always greener on the other side. While I'm sure there's no millionaires out there crying themselves to sleep at night wishing they were victims of the economy and living in utter poverty, they certainly have more IRS and Financial woes that low-earning taxpayers.