IRS Audits Targeted People Making Under $200,000 Per Year in Not So Shocking News

justmindy | 7:15 PM on May 08, 2024

In news that will likely not surprise conservatives in the least, the Biden administration lied about targets of IRS audits.

63% of new audits as of Summer 2023 targeted taxpayers with income of less than $200,000, per WSJ.
— unusual_whales (@unusual_whales) May 7, 2024

People making less than $200,000 per year isn't the 'ultra wealthy' we were told the audits would target.

The Internal Revenue Service said that it plans to sharply increase audit rates for big corporations, partnerships and multimillionaires over the next three years.

Read more: https://t.co/xEpW4ty0Cy
— unusual_whales (@unusual_whales) May 7, 2024

This time they mean it.

A March report by the U.S. Treasury Inspector General for Tax Administration (TIGTA) highlighted the IRS's sluggish performance. Despite having a strategic operating plan to revamp its auditing structure and provide "transformational change for taxpayers," the IRS only completed 33% of its 58 milestones set for Fiscal Year 2023. The agency is uncertain about how or when it will complete the remaining milestones.

The IRS announced on Thursday its intention to significantly increase audit rates for large corporations, partnerships, and multimillionaires over the next three years. This initiative is part of a broader effort to boost collections through increased enforcement spending and hiring.

My left wing tax professor pointed this out when they were claiming last year. She said they say this every time, but in reality studies routinely prove the IRS primary target is almost always the poorest regions of the country, like Mississippi Delta regions.
— Wannabe Defense Atty (@StrictLiable) May 7, 2024

They target people who don't have enough money or adequate resources to fight back. People who will pay whatever they demand because they're scared and it's cheaper than trying to fight the IRS.