Republicans claim Biden's planned investment in IRS enforcement would lead to 1.2 MILLION extra audits a year with almost half impacting families earning less than $75,000
Republicans on Thursday warned of the impact of stepping up IRS enforcement
Biden is proposing spending almost $80 billion on tightening tax regulations
In a memo, the GOP said it would double the number of audits in the next decade
Worst hit, said lawmakers, would be families of modest means
Almost half the extra audits would affect families earning less than $75,000
White House says push will be focused on those earning more than $400,000
By Rob Crilly, Senior U.S. Political Reporter For Dailymail.Com
Published: 12:19 EST, 18 November 2021 | Updated: 12:19 EST, 18 November 2021
Republicans on Thursday attacked President Joe Biden's plans to step up Internal Revenue Service enforcement to helping pay for his spending proposals, warning it would double the number of audits in the next 10 years.
Worst hit, they say in a new memo, will be families earning less than $75,000, who will account for half the audits while about a quarter would affect Americans earning less than $25,000 per year.
'President Biden wants to double Americans' chances of getting audited in order to squeeze every single dollar they can from American families and small businesses to fund the most expensive piece of legislation in history,' House minority leader Kevin McCarthy told Fox News, which first reported the memo.
'This would be a nightmare state for families living in fear of an army of IRS bureaucrats designed to second-guess and spy on them.'
Biden's $1.7 trillion Build Back Better plan includes pouring money into the IRC to bolster tax enforcement.
Some $79 billion would be spent on hiring agents, conducting more audits and modernise technology over a 10-year period.
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https://www.dailymail.co.uk/news/article-10217827/Republicans-claim-Bidens-investment-IRS-enforcement-lead-1-2M-extra-audits-year.html?ns_mchannel=rss&ico=taboola_feed_article&ns_mchannel=rss&ico=taboola_feed
