Americans’ Chances of Audit More than Doubles as Newly Supercharged IRS Targets Lower- & Middle-Income Earners
Nov. 18, 2021 - Blog - Oversight - Press Releases - Select Revenue Measures
Topline Message: Democrats’ tax and spending spree will more than double Americans’ chances of being audited as it targets lower and middle-income earners. The proposal will lead to an additional 1.2 million IRS audits each year, nearly half of which will hit middle class families making less than $75,000. All this so Democrats can wring an extra $200 billion out of the American people, particularly from middle-class families and small businesses.
* Biden’s plan to supercharge the IRS with $80 billion in mandatory funding and 87,000 new IRS agents will lead to drastically higher audit rates for all Americans at every income level according to the Congressional Budget Office.
* What does that mean for Americans? More than double the chance of being audited. And not just for the rich.
** There would be more than 1.2 million more individual audits per year.
** Nearly half of these audits-over 583,000-would be on Americans making up to $75,000 a year.
** Even the lowest income Americans would see more audits with a quarter of these audits-over 313,000-hitting Americans making up to $25,000 per year.
* This also will mean more than 800,000 more federal tax liens on taxpayer property such as homes and vehicles.
* The best available information/data shows that the majority of underreported individual and small business income is from those making between $0 and $200,000.
Bottom Line: The Biden plan will mean more audits of the middle class and lower-income Americans, 800,000 more federal tax liens per year, and more IRS shake downs of American families and small businesses.
