Khanna on Concerns about IRS Audits: ‘Pay Your Taxes’ — ‘Won’t Be an Issue’ if You’re Honest

[mystery-ak]

Khanna on Concerns about IRS Audits: ‘Pay Your Taxes’ — ‘Won’t Be an Issue’ if You’re Honest

Ian Hanchett 10 Aug 2022

On Wednesday’s broadcast of CNBC’s “Squawk Box,” Rep. Ro Khanna (D-CA) responded to people who are concerned about being audited due to increased funding for the IRS in the Inflation Reduction Act reconciliation bill by stating that “if people are honest about their taxes, this won’t be an issue.”

Co-host Andrew Ross Sorkin asked, “When you think about the IRS…there’s a lot of commotion, a lot of talking points around the fact that 87,000 employees — 87,000 people will be working at the IRS and what that means for your chance of — not just your chance of getting audited, but the cost of getting audited for people who are either running small businesses or for individuals who can’t afford it. What do you tell them?”

Khanna answered, “I tell them, like everyone, pay your taxes. I mean, this is not designed for clever schemes, this is going after people who just aren’t honestly paying their taxes. And there is almost a trillion dollars of revenue because of that. That’s not me, that’s Larry Summers. He did this groundbreaking paper that a lot of…revenue we’re not collecting because people aren’t being honest about it. Most people, our teachers or firefighters, you have to on the W-2, you’re honest about your taxes, and if people are honest about their taxes, this won’t be an issue.”

https://www.breitbart.com/clips/2022/08/10/khanna-on-concerns-about-irs-audits-pay-your-taxes-wont-be-an-issue-if-youre-honest/

[mystery-ak]

Khanna: Inflation Reduction Act Is Deflationary ‘Over the Long Run,’ ‘Not Going to Say That It’s Going to Lower Inflation Right Away’

Ian Hanchett10 Aug 202210
1:21

On Wednesday’s broadcast of CNBC’s “Squawk Box,” Rep. Ro Khanna (D-CA) stated that the inflation Reduction Act reconciliation bill will be deflationary “Over the long run,” and said, “I’m not going to say that it’s going to lower inflation right away.”

Co-host Andrew Ross Sorkin asked, “I want to go to inflation, if I could, just for a moment, and I want to start there. Because, obviously, there’s a debate about whether this is actually going to end inflation or even reduce inflation at all. Do you have a view about that? And I know some people, by the way, who say, I don’t even care if it doesn’t end or reduce inflation, I’m here for the climate piece of it or I’m here for the healthcare piece of it or I’m here for the IRS piece of it.”

Khanna responded, “Over the long run, I think it will have a deflationary impact. I’m not going to say that it’s going to lower inflation right away. But if you’re making things in the United States, if we’re going to be making solar panels, if we’re going to have more energy independence, that means that it’s going to have less inflation.”

https://www.breitbart.com/clips/2022/08/10/khanna-inflation-reduction-act-is-deflationary-over-the-long-run-not-going-to-say-that-its-going-to-lower-inflation-right-away/

[Free Vulcan]

Even myself, I've had the IRS tell me I owe more taxes, and I've had to come back and show them the code of why I was perfectly in my rights to take that deduction.

You've paid your taxes till the IRS says you haven't. Amp up the intimidation and thug behavior and most will just bow to them.

They're escalating to an outright extortion ring.

[Kamaji]

Even myself, I've had the IRS tell me I owe more taxes, and I've had to come back and show them the code of why I was perfectly in my rights to take that deduction.

You've paid your taxes till the IRS says you haven't. Amp up the intimidation and thug behavior and most will just bow to them.

They're escalating to an outright extortion ring.

[cato potatoe]

What a moron. These days, few IRS agents are CPAs or can even understand Generally Accepted Accounting Principles.  Assuming your records are still in tact, you are in for a headache if your return is selected for review.  IRS technology is ancient.  I don’t have all of the details, but this hiring spree sounds like a full employment act rather than a permanent fix.

[DefiantMassRINO]

The IRS presumes you're guilty until proven innocent.

They seize and freeze you personal and business assets without having gone through due process.

The IRS will ruin your life because they can.

You'd think the IRS seizure and freezing assets would be a blatant violation of the 4th Amendment:

The Fourth Amendment

The right of the people to be secure in their persons , houses , papers , and effects, against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.

[GtHawk]

Even myself, I've had the IRS tell me I owe more taxes, and I've had to come back and show them the code of why I was perfectly in my rights to take that deduction.

You've paid your taxes till the IRS says you haven't. Amp up the intimidation and thug behavior and most will just bow to them.

They're escalating to an outright extortion ring.

I had a friend that had an issue with the Infernal Revenue Service over  a return, they said he owed more he said he didn't but finally just paid to end the situation or so he thought. The IRS re reviewed his case and decided that he owed even more than the agreed amount, it took two years and a tax attorney to get that monkey off his back...for that year but they apparently have flagged him for extra scrutiny every year since.

[christian]

I had the IRS demand more money, then more money was sent me by a refund saying they  took too much, then demanded i send them more money again.  I told the guy that just sent me another refund just a few weeks back, let me know when you can figure out what you are doing.  That was the last i heard of that.