Turns out the IRS is after you, after all
October 9, 2023 | E.J. Antoni
When it was first revealed that the so-called “Inflation Reduction Act” provided funding for 87,000 new IRS agents, Biden administration officials told Americans not to worry. They promised at every turn that these agents would only be set upon those earning over $400,000 a year.
But the Act has done nothing to reduce inflation, so it’s hardly surprising to learn now that an army of IRS agents has the middle class in its crosshairs.
In a new report, the Treasury Inspector General for Tax Administration admitted that the Treasury would not be able to accurately distinguish whether many taxpayers are above or below President Joe Biden’s $400,000 threshold. When the Inspector General recommended addressing this shortcoming, the IRS declined to do so, claiming it needs to have the “agility” to target anyone.
In fact, the IRS went so far as to reject any threshold for defining “high-income taxpayers,” calling such figures “static and overly prescriptive.”
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https://www.bizpacreview.com/2023/10/09/ej-antoni-turns-out-the-irs-is-after-you-after-all-1402816/
