Syracuse University’s Transactional Records Access Clearinghouse (TRAC) released data on Wednesday provided by the Internal Revenue Service (IRS) on audits conducted by the IRS in the 2022 fiscal year that found the agency prioritized the harassment of the poorest households.
Reason magazine reported that despite receiving additional funding from the Inflation Reduction Act, the data indicated that the IRS primarily focused on auditing low-income taxpayers, while fewer audits were conducted on millionaires and billionaires.
“The taxpayer class with unbelievably high audit rates—five and a half times virtually everyone else—were low-income wage-earners taking the earned income tax credit,” reported TRAC, adding that the poorest taxpayers are “easy marks in an era when IRS increasingly relies upon correspondence audits yet doesn’t have the resources to assist taxpayers or answer their questions.”
“If one ignores the fiction of auditing a millionaire through simply sending a letter through the mail, the odds that millionaires received a regular audit by a revenue agent (1.1%) was actually less than the audit rate of the targeted lowest income wage-earners whose audit rate was 1.27 percent,” the TRAC continued.
The revelation comes six months after Congress passed the so-called Inflation Reduction Act, which allocated $80 billion in funding to the IRS over the next 10 years in order to hire 87,000 new employees. This funding was supposedly intended to allow the IRS to effectively target wealthy individuals who were not paying their fair share of taxes.
The bill’s supporters in the left-wing media argued that this would not result in an increase in audits for those making less than $400,000 per year, although these assurances were not explicitly stated in the bill. Supporters of the Act also insisted that the increased capacity at the IRS would only be used to target the wealthy.
The IRS is already globally notorious for its cutthroat methods of tax collection, while this bill paves the way for the expansion of a rogue agency facing serious questions of accountability. As explained by Foundation for Economic Education, during the Obama presidency the agency “specifically targeted conservative nonprofit groups” and “illegally leaked the private tax documents of wealthy private citizens—who weren’t breaking any laws—to the media in order to make a political, partisan point in favor of increasing taxes on the rich.”
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Why don’t they go after the high-profile people whom they know owe taxes in the millions of dollars?? That’s a rhetorical question.
Abolish the IRS !!!!!
“$80 billion in funding to the IRS over the next 10 years in order to hire 87,000 new employees,,,,supposedly intended to allow the IRS to effectively target wealthy individuals who were not paying their fair share of taxes.”,,,,,,,is just the smokescreen. Attacking political opponents for blackmail and control is the real motive behind the upcoming mayhem they seek to create, that will just further divide the nation according to class, with the successful again getting their life forces socially redistributed from the honest hard working earners to the dishonest slackers and people of entitlement mentality who populate and vote democrat like children lined up for a Chinese fire drill. The 87,000 were to be issued weapons not to protect THE PEOPLE they serve, but to intimidate, hold them up and rob them with real guns, where formerly just tax guns got the job done too slowly. Most of the high-tech, high profile taxpayers are Democrat and must be protected.
BECAUSE the high payers,
A) can hire lawyers to fight it… Low income folks can’t
B) are most likely democrat doners.
C) are most likely affiliated with someone in govt.
Take your pick.
“The revelation comes six months after Congress passed the so-called Inflation Reduction Act, which allocated $80 billion in funding to the IRS over the next 10 years in order to hire 87,000 new employees. This funding was supposedly intended to allow the IRS to effectively target wealthy individuals who were not paying their fair share of taxes.
The bill’s supporters in the left-wing media argued that this would not result in an increase in audits for those making less than $400,000 per year, although these assurances were not explicitly stated in the bill.”
What will it take for the treasonous, dishonest, socialist Democrat Party supporters to understand that the Democrat Party Lies and is their greatest ENEMY!
If you look it up, which of course may noy be 100% accurate but close enough for government work, sharpton at one time owed over 3 million in back taxes. Bet that if he had paid it all, that “news” would be posted/aired over and over for months but has anyone ever heard that he paid it?
Sharpton gets over a million a year salary paid from his own charity, yet claims to only have a net worth of $500K. He may have paid his taxes with unearned income from getting put on the MSNBC payroll just like Chelsea Clinton got paid a $600,000 annual salary to catch Tax- dodging Clintons up on socially redistributed money that belongs to other people. Unlike Trump, nobody will raid their homes or take them to court to find out so long as Democrats run the show and get funded by the corruption. More food for the HOuse investigations.
You can bet biden and co HAVE NOT required him to pay back ONE DIME OF that.