The IRS has been grossly understaffed for a while. It’s why there are still people waiting for tax returns from two years ago. It’s why trying to get ahold of anyone from the IRS is impossible. It’s also why many people haven’t encountered IRS audits.
Now, the IRS has announced that it will be hiring 87,000 new agents. If that sounds like a lot, it is. And one of the best ways to ensure that they make good use of all of those agents is to keep them busy.
Expect more IRS audits to be talked about. And hope that you’re not one of the unfortunate ones getting audited.
Senator Lindsey Graham (R-SC) has a few comments about the number of agents that will get added to the IRS, compliments of the Democrats’ Inflation Reduction Act. “If you think the federal government is out of control now, God help us when you get 87,000 new IRS agents who are looking under every rock and stone to get money out of your pocket.
Trump’s Secret Legacy Is Set To Create Small Fortunes!
Developing Story - Trump administration oversaw a RADICAL change to the tech world… one that could unleash a huge wave prosperity… and wealth creation in the near future. Find Out More
At a recent press conference where Graham was with Henry McMaster, the governor of South Carolina, he was quick to point out that the IRS agents are “supposed to be for the rich.” Sure, but what else do the rich have? Accountants and lawyers that can help them get out of their financial woes.
The reality is that over half of the IRS audits performed every year are on those that make under $75,000 per year. More Americans will be targeted. As Graham warns, the IRS will be expanded by two and a half times its current size once the new IRS agents are hired.
Of course, the new agents won’t all get added at once. The hires will occur over the next 10 years. There will also be an $80 million investment so that enforcement is increased.
All of this is money to the wrong department. Do we really need IRS enforcement when our southern border is an absolute mess?
Graham has already pledged that he’ll fight the funding of the IRS. He’d like to see that there’s a focus on immigration enforcement. He believes there should be more Border Patrol agents and fewer IRS agents. And honestly, most Americans, regardless of how they vote, would likely agree with that sentiment.
The bill that was passed through reconciliation this past Sunday is nowhere near perfect. In fact, if you look at the details, there are a few nightmare elements that are only going to hurt the country.
The bill ultimately had to be passed with VP Kamala Harris serving as the tie-breaker, and we all knew that she would be allegiant to her party.
The IRS expansion isn’t the only problem. As Graham refers to it, it was a “power grab in the name of climate change.”
$430 billion in legislation sends out tax credits for cleaner energy choices and allows Medicare to negotiate lower drug prices directly with the pharmaceutical companies.
$430 billion is a significant amount of money. If you think they’ll pay for that solely with the 15% minimum tax that will now be on all large corporations, think again. That’s why they need so many new IRS agents. If they even think that there’s an issue with your tax return, they’ll perform an audit. After all, those agents will need something to help them pass the time.
Graham said it best. “God help us.”
Jeff Bezos’ Big Bet
World’s 2nd-Richest Man’s Latest Bombshell
The fuse has already been lit... and on March 9th I believe he’ll reveal a few more details. If you missed out on taking advantage of the Amazon success story... don’t miss out again. Find Out More
