The Internal Revenue Service (IRS) has said it will increase its audit rates of wealthy taxpayers and large corporations by 50 percent.
The IRS will reportedly be using funds allotted to it under the Inflation Reduction Act, which President Biden signed into law in 2022.
“The audit rate of taxpayers earning more than $10 million is expected to increase by 50%, going up from 11% in 2019 to 16.5% in 2026,” reported CNN.
Republicans believe the IRS will likely be using this expansion and funding to penalize middle-class Americans. IRS Commissioner Danny Werfel said the agency will leave Americans earning less than $400,000 annually alone.
www.breitbart.com
Expect to hear from Agents who will question if you and your wife really needed to see the doctor last year and what's up with these pharmacy deductions? You really dont' need that insulin, statins or Plavix.
And what is this church thing and charity you gave money to last year? We didn't tell you to do that!
The IRS will reportedly be using funds allotted to it under the Inflation Reduction Act, which President Biden signed into law in 2022.
“The audit rate of taxpayers earning more than $10 million is expected to increase by 50%, going up from 11% in 2019 to 16.5% in 2026,” reported CNN.
Republicans believe the IRS will likely be using this expansion and funding to penalize middle-class Americans. IRS Commissioner Danny Werfel said the agency will leave Americans earning less than $400,000 annually alone.
IRS to Increase Audit Rates of Wealthy Taxpayers by 50 Percent
The Internal Revenue Service (IRS) has said it will increase its audit rates of wealthy taxpayers and large corporations by 50 percent.
Expect to hear from Agents who will question if you and your wife really needed to see the doctor last year and what's up with these pharmacy deductions? You really dont' need that insulin, statins or Plavix.
And what is this church thing and charity you gave money to last year? We didn't tell you to do that!