The Biden administration vowed not to use the Inflation Reduction Act’s $80 Billion to the IRS, to audit Americans making less than $400,000.
The IRS’s Targets
The IRS just received $80 billion in funding from Washington, stating it will be used to target audits on the wealthier class who make $400,00 and up.
The US Treasury is disputing that the new IRS funding from the Inflation Reduction Act would increase middle-class taxes and that the middle-class would be a target for upcoming audits.
Natasha Sarin, US Treasury’s counselor for tax policy and implication, said that the IRS’s software algorithms would remain the same, and the audit rates for people making less than $400,000 will not change. Officials stated they suspect a great deal of tax evasion and will now look at actual income, not what is reported to the agency.
Sarin also pointed out that the IRS will target people with “opaque” income like partnerships, trusts, or international bank accounts.
IRS Whistleblower Says Biden Will Target Middle Class
William Henck left his position as an IRS lawyer after 30 years in 2017, and was forced out of a job because of allocations of internal malfeasance.
Henck told FOX Business
“The idea that they’re going to open things up and go after these big billionaires and large corporations is quite frankly bulls–t. It’s not going to happen. They’re going to give themselves bonuses and promotions and really nice conferences.
If you own a roofing company, you better count on getting audited because that’s what they’re going to be doing. They’re going to be going after your car dealerships, and roofing companies.”
Henck also warned that it is extremely likely the IRS will go after businesses and individuals who will not have enough money to hire Washington lobbyists, and will likely focus on small-business audits.
The former IRS lawyer also mentioned that during his time at the IRS, he observed agents specifically targeting the elderly because they could be forced into settlements.
“The big corporations and the billionaires are probably sitting back laughing right now.”
Pushback
Rick Scott (R-FL) published a letter this week encouraging job seekers not to apply to IRS positions stating that Republicans will take control of Congress next year and defund the IRS jobs.
Scott claims Biden will create an IRS “super police force” that will be poised to investigate and audit everyday, hardworking Americans.
Get the news you need at It’s On News.
BIDEN IS THROWING OUR MONEY DOWN THE TRASH SHOOT
I don’t know how much additional money, that’s taxes, can be extracted from The Middle Class, it one thing is obvious. This group is more likely to simply write a check than it is to do battle with the IRS, and since there are many, many more “Middlers”, than there are those awash in money, draw your own conclusions. When last I looked, 2 + 2 still equaled 4.