Even worse than the increases on almost all Americans, and the inflation increasing spending increases, is the about doubling of the size of the most crooked, rogue agency in the US. They aren't hiring 85k+ new IRS agents to target 8, 9, 10 figure net worth individuals. They are already being targeted, and have the means to hire expensive tax accountants and attorneys to defend themselves against the IRS. They are being hired to target the tens of millions of middle and upper middle class, where the money is at, with 1.2 million more audits per year. The proof being the donks blocking a the conk amendment to limit the increase in IRS audits to those making over 400k per year.
Americans who earn less than $75,000 per year are slated to receive 60% of the additional tax audits expected under Democrats' spending package, according to an analysis released by House Republicans.
The analysis, which is a conservative estimate based upon recent audit rates and tax filing data, shows that individuals with an annual income of $75,000 or less would be subject to 710,863 additional Internal Revenue Service (IRS) audits while those making more than $1 million would receive 52,295 more audits under the bill. The legislation, the Inflation Reduction Act, would roughly double the IRS' budget to increase enforcement and, therefore, federal tax revenue.
"Value shoppers at Walmart and other retailers, already struggling with higher prices and more expensive fuel to drive to the store, will get hit with 710,000 additional audits thanks to the Manchin-Biden Democrat bill," House Ways and Means Committee ranking member Kevin Brady, R-Texas, said in a statement after releasing the study.
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