IRS Commissioner Danny Werfel faced a grilling by lawmakers on Capitol Hill this past week, where he hinted that there’s a chance that the agency will—contrary to its repeated pledges—increase tax audits of Americans earning under $400,000.
The question of whether the IRS will use some of the $80 billion or so funding boost to increase tax enforcement of people making less than $400,000 has been a contentious issue.
IRS and Treasury Department officials have pledged not to increase audit rates for this group of Americans, while Republicans and others have argued that this pledge is either false or wishful thinking.
Treasury Secretary Janet Yellen has directed the IRS not to raise audit rates above historical levels for this group of taxpayers, while Mr. Werfel has repeatedly made the same pledge.
But a watchdog recently cast doubt on this promise, warning that Americans making less than $400,000 could inadvertently get caught in an enforcement dragnet because the IRS doesn’t have a clear definition of “high-income” and its enforcers use an outdated $200,000 high-income threshold as their default.
IRS Chief Hints At Possibility Audits May Rise For Americans Earning Under $400,000 https://t.co/yuHSSTB3QE— zerohedge (@zerohedge) October 31, 2023
It’s no wonder. There isn’t enough cash to send overseas or to feed and house illegal immigrants, the rich hide their money in “corporations” so it’ll be down to the middle class to have their pips squeezed by the government.
Income tax was originally designed to make the rich “pay their fair share” but they realized how to avoid it pretty fast and the idiots (us) who thought the rich were going to pick up the slack and the government would NEVER tax us were instead screwed over. This is another example of the communistic grab by central government.