A large cash infusion for the Internal Revenue Service is part of the economic package Democrats are working to push through Congress before their August break, News Nation reports.
Under a deal worked out by Senate Majority Leader Chuck Schumer and West Virginia Sen. Joe Manchin, the Inflation Reduction Act of 2022 would spend an extra $79.6 billion on the agency over the next 10 years. The added cash is expected to go toward hiring 87,000 new IRS agents, roughly doubling the agency’s size. The IRS says the money is expected to go toward efforts to crack down on wealthy tax evaders and to modernize its technology.
Democrats say the IRS investment is needed to ensure that corporations and wealthier Americans pay what they owe in taxes.
IRS commissioner Charles P. Rettig told Congress that the agency would not increase audits of households earning less than $400,000, according to the New York Times. News Nation
{Matzav.com}
They want to make sure they fleece and milk every penny to pay for their woke projects.
Dumb title. IRS is terribly backlogged and undermanned. This step was taken to address this.
I have a bridge to sell you
The IRS will soon be destroyed because it’s an agency of the UN, not a govt agency. Most of the US taxpayer’s money went to the UK queen, the Vatican and Central Banks, then they charged the US interests on their loans of their own money; hence, the trillions of dollars US debt.
Even if (just for the sake of argument) that were true, then they would just hire temporary/seasonal staff – like here in Canada I know during “tax season” the Canadian tax department hires seasonal workers. Aside from that, the U.S. department itself made it clear that there are new and increased reporting requirements and these hires are for audits (in contrast to clearing up a backlog). So even if it was true there is a backlog, the only reason there is a backlog in the first place is because of new and additional audits they want to impose. And there just aren’t than many “rich” people to do audits on.
Why do you need more IRS agents, when you have CPA experts Letitia James and Cyrus Vance Jr.??? They’ve done such an excellent job pouring thru former President Trump’s personal tax returns. They nailed him on those unclaimed paper clips.
Face it, dry times are far from us.
This is a lot of agents. Beware.
Why not? Halachicly, one is allowed to shave now. I don’t use pre-shave or after-shave anymore.
It sounds like they plan to mostly target the wealthy, who largely get out of paying the taxes the law requires them to pay by hiring fancy lawyers who keep pushing the IRS off until the IRS just doesn’t have resources to collect from the wealthy and so focuses on the middle and lower income brackets who can’t afford the fancy lawyers and whom the IRS knows are more likely to produce income. This sounds like a good thing for those lower and middle income people, if the IRS can get what it’s owed from the wealthy they can lower the tax rates for others.
only about 20% of the calls to the IRS are answered. if you get a notice there is no one to talk to . this is a desperate need and it will probably save taxpayers money and allow those that dont owe money to speak to someone in the IRS and get the fine abated. even tax lawyers have a hard time getting through. paper filed returns take a year to get processed and if you are waiting for a refund on a paper return you have to wait that long to get it. hopefully with this step it will improve…