IRS Hasn’t Planned Details of How $80 Billion Windfall With Affect Middle Class

The Internal Revenue Service (IRS) does not yet know the details of how the Biden admin’s approval of an $80 billion windfall will affect middle-class audits. A document from the Treasury Inspector General for Tax Administration said the IRS has “not yet finalized what constituted the $400,000 income level or what historic audit level will be used for its metrics.”

From The Daily Wire:

Yellen has previously vowed that the new resources will not be utilized to increase audit rates for American households earning less than $400,000 per year “relative to historical levels.” She failed to clarify that “historical levels” of enforcement were far higher as recently as one decade ago: audit rates for Americans earning between $25,000 and $200,000, for instance, decreased 76% between 2010 and 2019, according to data from the Government Accountability Office.

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“At a time when Americans are facing the double threat of sky-high inflation and an economy in recession, top bureaucrats at the IRS are huddling over how to spend their $80 billion windfall, and what technicalities they can use to justify auditing families and small businesses,” Ways and Means Committee Chairman Jason Smith (R-MO) said in a statement provided to The Daily Wire. “President Biden and Secretary Yellen need to come clean with the American public about the true extent of their enforcement plans and exactly how many middle-class families will be swept up in their audit scheme. The American people are already dealing with 40-year high inflation; the last thing they need is a visit from the IRS.”

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