Biden and members of his administration have said Americans with income less than $400,000 would not be affected, but House Republicans warn that the House version of the bill noted that half (nearly 600,000) of the expected 1.2 million new audits would target average American households earning less than $75,000, Politico reported.
The administration later changed the proposal to the IRS collecting information on the total deposits and withdrawals from bank accounts with more than $10,000 in non-payroll income.
Make $10k not from an approved big employer and you're on their radar.
What does this mean exactly, tho? Is being audited much worse than an annoyance? If you’ve payed your taxes naturally through your employer and kept accurate records of your investments, what would auditing normies actually accomplish besides being significantly irritating?
Paid your taxes naturally? No such thing exists. Annoyance and harassment is the goal, try making money not as a normie and not being a w-2, it’s impossible to stay out of their crosshairs. The system has been designed this way, people think they live in the freest country in the world. Try leaving with what is rightfully yours. Tax revolt and death to the federal government now!
I assume it's like the quip about everyone committing three felonies a day; going over people's bank accounts with a fine-toothed comb will probably reveal unpaid taxes.
Yep, being audited is more than an annoyance. They can ask for whatever they want, and might ask for information that isn't even available. And it's all under the threat of going to court and being accused of not complying.
I'm honestly not even sure they can hire that many agents anytime soon, much less train them all.
I don't see where it says they are going to audit people who file 1040 EZ. What they are getting at is that a lot of illegal tax evasion is committed by people who don't make that much, half the time without even realizing they are doing it, seeing as how the tax code is unreadable by all but a law firm. Rich people evade taxes, but they tend to have lawyers... which still doesn't keep them from coming into conflict with the IRS.
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