87,000 NEW IRS EMPLOYEES FROM IRA
September 28, 2022 - Douglas Myser
87,000 new IRS employees from IRA. The Inflation Reduction Act, or IRA, is adding an additional 87,000 IRS employees, keeping the promise of the campaign of Joe Biden, who stated he would fund his programs by increasing funding at the IRS, which has been starved of funding for nearly 12 years. Republicans stated that the Act would increase the chance of audits on ordinary Americans, although that seems more a political year hype, with the midterms nearby. The IRS stated that it would only marginally impact the middle class, but is targeted to the wealthy and those who have not filed tax returns or who have a balance owed to the IRS, which accounts for hundreds of thousands of people in reality. If you make more than $100,000 yearly, your chances of an audit just doubled with the passage of the act. The act will inject nearly $80 billion into the IRS, an agency who has seen budget cuts over the last decade, while deficits soar and reports of the rich, celebrities, and politicians putting money into offshore accounts to hide from the taxman. 87,000 new IRS employees from IRA.
Households earning less than $400,000 "will likely see the chance of an audit decline:, the U.S. Treasury stated in a statement, "instead new funding will crack down on tax evaders among the wealthy and large corporations, invent in technology upgrades that help taxpayers, and hire more customer service support staff to prevent backlogs. What they don't tell you is that the IRS is also once again sending out Tax Lien notices, and notices they get from State Revenue Departments, who they share information with, that will increase the IRS looking at the tax background of those with State Tax Debts.
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