AuntiE
Loc: 45th Least Free State
https://www.wsj.com/articles/irs-tax-collectors-audit-middle-class-tigta-5071d622?IRS’s Most Wanted: The $200,000 Man
Sixty-three percent of new audits last year were aimed at middle-class filers.The Editorial BoardApril 2, 2024 at 5:37 pm
The Internal Revenue Service got an audit of its own in time for Tax Day, and two irregularities jump out. President Biden’s plan to hire a new army of tax collectors is falling flat, and the agents already at work are targeting the middle class.
Those are two findings of the IRS’s watchdog, the Treasury Inspector General for Tax Administration (Tigta). The report examines IRS progress on mandates from the Biden Administration backed by tens of billions in new funding. The first supposed goal was to audit more ultrawealthy and fewer middle-class filers, but it’s not going so well.
By last December the IRS decided that it wouldn’t begin tracking its progress until later this year. That’s because the agency has been slow to shift its focus to high-income taxpayers, who make up a small share of total filings. Its April 2023 strategic plan pledged that future audits would disproportionately target individuals making at least $400,000, but “did not include specifics on how the IRS was going to ensure it met this commitment,” says Tigta.
The most recent data suggests the IRS is still focused on the middle class. As of last summer, 63% of new audits targeted taxpayers with income of less than $200,000. Only a small overall share reached the very highest earners, while 80% of audits covered filers earning less than $1 million. Don’t forget to save those charitable-giving receipts.
Even with new hires, they lack the credentials to audit a high income tax filer. No rational, highly qualified tax expert would waste their career working for the IRS. Because of this, middle income filers will remain the focus. In fact, it was nothing but a propaganda move to hire more agents to harass more middle income filers.
There's ALWAYS been plenty of agents to target rich business owners and the like...who'd you think the new agents would be targeting.. DUH
AuntiE
Loc: 45th Least Free State
Sonny Magoo wrote:
There's ALWAYS been plenty of agents to target rich business owners and the like...who'd you think the new agents would be targeting.. DUH
Again, it is unlikely they have anyone qualified to audit a significantly rich tax filer. Their returns are vastly more complicated.
It was all propaganda anyway. The IRS site shows 1% and 5% income tax payers pay significantly higher taxes.
AuntiE wrote:
https://www.wsj.com/articles/irs-tax-collectors-audit-middle-class-tigta-5071d622?
IRS’s Most Wanted: The $200,000 Man
Sixty-three percent of new audits last year were aimed at middle-class filers.
The Editorial BoardApril 2, 2024 at 5:37 pm
The Internal Revenue Service got an audit of its own in time for Tax Day, and two irregularities jump out. President Biden’s plan to hire a new army of tax collectors is falling flat, and the agents already at work are targeting the middle class.
Those are two findings of the IRS’s watchdog, the Treasury Inspector General for Tax Administration (Tigta). The report examines IRS progress on mandates from the Biden Administration backed by tens of billions in new funding. The first supposed goal was to audit more ultrawealthy and fewer middle-class filers, but it’s not going so well.
By last December the IRS decided that it wouldn’t begin tracking its progress until later this year. That’s because the agency has been slow to shift its focus to high-income taxpayers, who make up a small share of total filings. Its April 2023 strategic plan pledged that future audits would disproportionately target individuals making at least $400,000, but “did not include specifics on how the IRS was going to ensure it met this commitment,” says Tigta.
The most recent data suggests the IRS is still focused on the middle class. As of last summer, 63% of new audits targeted taxpayers with income of less than $200,000. Only a small overall share reached the very highest earners, while 80% of audits covered filers earning less than $1 million. Don’t forget to save those charitable-giving receipts.
Even with new hires, they lack the credentials to audit a high income tax filer. No rational, highly qualified tax expert would waste their career working for the IRS. Because of this, middle income filers will remain the focus. In fact, it was nothing but a propaganda move to hire more agents to harass more middle income filers.
https://www.wsj.com/articles/irs-tax-collectors-au... (
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Of course. 100% another question is why are these people being armed? Aren't audits conducted at their secure facilities? 1776
AuntiE wrote:
Again, it is unlikely they have anyone qualified to audit a significantly rich tax filer. Their returns are vastly more complicated.
It was all propaganda anyway. The IRS site shows 1% and 5% income tax payers pay significantly higher taxes.
Auntie, you are 100% correct. High net worth individuals, especially if they own multiple businesses, is a very complicated return. No way would new hires who are capable would waste their time working for the government. Excellent point.
AuntiE
Loc: 45th Least Free State
Proud American Patriot wrote:
Of course. 100% another question is why are these people being armed? Aren't audits conducted at their secure facilities? 1776
Per the IRS site:
How will the IRS conduct my audit?
The IRS manages audits either by mail or through an in-person interview to review your records. The interview may be at an IRS office (office audit) or at the taxpayer's home, place of business, or accountant's office (field audit). Remember, you will be contacted initially by mail. The IRS will provide all contact information and instructions in the letter you will receive.
If we conduct your audit by mail, our letter will request additional information about certain items shown on the tax return such as income, expenses, and itemized deductions. If you have too many books or records to mail, you can request a face-to-face audit. The IRS will provide contact information and instructions in the letter you receive.
Depending on the issues in your audit, IRS examiners may use one of these Audit Techniques Guides to assist them. These guides will give you an idea of what to expect.A better question is why do HHS, Commerce Department, etc. Agents have guns? During Obama’s reign of terror, the US government was the largest single purchaser of handguns and ammunition.
AuntiE wrote:
Per the IRS site:
How will the IRS conduct my audit?
The IRS manages audits either by mail or through an in-person interview to review your records. The interview may be at an IRS office (office audit) or at the taxpayer's home, place of business, or accountant's office (field audit). Remember, you will be contacted initially by mail. The IRS will provide all contact information and instructions in the letter you will receive.
If we conduct your audit by mail, our letter will request additional information about certain items shown on the tax return such as income, expenses, and itemized deductions. If you have too many books or records to mail, you can request a face-to-face audit. The IRS will provide contact information and instructions in the letter you receive.
Depending on the issues in your audit, IRS examiners may use one of these Audit Techniques Guides to assist them. These guides will give you an idea of what to expect.
A better question is why do HHS, Commerce Department, etc. Agents have guns? During Obama’s reign of terror, the US government was the largest single purchaser of handguns and ammunition.
Per the IRS site: br br i How will the IRS cond... (
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Thanks for the info. Yes, Bathhouse did purchase a huge amount. Was it $40 mil worth of hollow points? That also created a civilian shortage. That isn't practice ammo fer sure.
AuntiE
Loc: 45th Least Free State
Proud American Patriot wrote:
Thanks for the info. Yes, Bathhouse did purchase a huge amount. Was it $40 mil worth of hollow points? That also created a civilian shortage. That isn't practice ammo fer sure.
Nobody wastes hollow point. If you are practicing, cheap is what one uses.
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