Last weekend, all 50 Senate Democrats voted against an amendment offered by Senate Finance Republican Leader Mike Crapo (R-ID) that would have protected lower- and middle-income American taxpayers against new audits by the IRS.
The Congressional Budget Office (CBO) confirms that had this amendment passed and lower- and middle-income taxpayers been protected, revenue in Democrats’ bill would have been reduced by at least $20 billion – confirming that at least $20 billion of the $124 billion in new revenue expected by a supercharged IRS will be coming from higher audits on low- and middle-income Americans.
The Joint Committee on Taxation, Congress’s official tax scorekeeper, says that from 78 percent to 90 percent of the money raised from under-reported income would likely come from those making less than $200,000 a year. Nearly half of the audits would hit Americans making $75,000 per year or less and only 4 percent to 9 percent would come from those making more than $500,000.
Do you really think these super charged audits will be fairly distributed between blue and red states? Do you trust the Biden admin IRS to not weaponize this new power to witch hunt conservatives just like how the prior Obama admin went after right wing charities and tax exempt groups?
Xir. uhhh, Unknown... Say-lor? Yes, this is Agent Stairs-Muffin with the EYE-ARR-ESS, they's pronouns are Zeyzimzor/Gher, they am wearing a green tutu if xir are visually impaired... they see here that xir haven't filed taxes in several years, so they've decided to audit xirrrrrr...