Posted on 04/06/2023 1:16:04 PM PDT by ConservativeInPA
The IRS hopes to increase tax audits on the wealthiest taxpayers tenfold under the Biden administration’s plan for the agency, according to a senior administration official and the IRS’s new strategic operating plan.
IRS and Treasury Department officials said Thursday that they will use $80 billion in new funding for the tax service to claw back unpaid balances from high-income earners and complex businesses — restoring audits on those taxpayers to higher rates from more than a decade ago — and boost customer service resources for middle- and low-income tax filers.
The agency plans to digitize its tax-processing pipeline and begin developing a government-backed online tax-filing software with money from the Inflation Reduction Act, one of President Biden’s chief legislative victories, officials announced in a 149-page report.
(Excerpt) Read more at msn.com ...
Yes, and the usual pubbie back stabbers voted for cloture. Allowing the bill to be brought to the floor.
Yes, no taxes at all. But then how would Republicans in agriculture and farming, defense, energy, health care, and transportation get paid?
So a small business with $400,000 in income and $350,000 in expenses is now wealthy but does not have resources to fight the IRS.
And they compete against foreign businesses that do not get scrutiny.
“..The wealthy will be anyone with two coins to rub together....”
Yep.
It’s outright legalized theft, and these newly-hired guns are out to do the dirty work of stealing. The whole diabolical mess needs to be done away with and go with what was posted in Post #1.
The IRS is not designed to handle small online businesses, If the House does no kill 85,000 new agents, those agents will be hell bent on destroying successful new busineses.
These will be from WFH whores to the next Steve Jobs.
Will Republicans know how to capitalize on this? Or will they continue to be boneheaded..and notice that both many establishment and many non-establishment are lousy at communicating.
And since any business owner or investor already has a CPA firm doing their taxes, the chances of recovering any money from people earning over 250K or so is minimal. So they are going after the upper-end W-2 wage earner who might still be filing his or her own taxes and getting a little bit careless about itemized deductions.
No they aren’t.
They’re going after people whose wages depend upon tips.
No, the IRS has been busy going after people of lower means. Especially if you’re conservative in nature. It’s become a politically corrupt organization.
Audit Congress and all the upper echelon of the administration.
Sorry, that always the first part of the con they run.
I remember seeing a Money Magazine on the staff lounge coffee table saying in Which Candidate Should You Choose? If you want to same some money Bill Clinton has campaigned it is time for a middle class tax cut.”
He won (spoiler) and the same issue got older sitting on the same coffee table as the media said Bill Clinton’s staffs have gone over the GOP handling of the budget and Clinton just declared he will NOT be able to offer any tax cuts for the middle class and due to the bungling of the GOP he will now put in tax increases.
Speaking of arch criminals, why aren’t the “wealthy” fighting back like organized crime against their enemies?
Reward their friends and punish their enemies as the union boss said.
The wealthy shouldn’t be wimpy, helpless losers on their knees like we are.
It’s something like 45% here. That’s six months of slavery.
Anyone who has that kind of money is smart, has sweated and studied and taken risks far beyond what most of us can stomach. That’s why they’re successful. That’s what runs this country. And now this government is going to do all it can to destroy that.
I’m trying to set up my own small solo private medical practice and it’s absolutely grueling. I can’t imagine larger business owners, the risks and the endless tasks and smarts they have had to employ to be where they are.
My grandpa had two offices when he was a dentist. I remember the stress. He had an amazing wife who helped him a lot.
The biggest thing is encouragement and surviving those first couple years. You became a doctor. The hardest is all the bureaucracy?
The same goes for the oil companies.
They should be airing nonstop commercials exposing and laying into the greenie weenie agenda, but all I hear is crickets.
I went through absolute hell on earth 25 years ago with the IRS while making minimum wage working at a warehouse in Brooklyn NY. My boss screwed up my taxes and they said I owed $50,000 in taxes and I told them it was $500 and this went back and forth for months, then they put a lien on my bank account and I couldnt afford a lawyer so I would cash my paychecks at a check cashing place and have to buy everything in cash. I was working a MINIMUM WAGE job! Imagine what 86,000 new agents will do.
The wealthy know the bidung irs won’t go after them mo matter what the bidung says.
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