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This is an extremely common misconception (or lie, depending on who's saying it). The IRS, even before the cuts, targets exclusively the middle class. More age
by 0xy 8mo ago
This is an extremely common misconception (or lie, depending on who's saying it). The IRS, even before the cuts, targets exclusively the middle class.
More agents = more middle class shake downs.
63% of the IRS' audits under the Biden admin targeted those earning sub-$200K.
People earning $25K a year are MORE likely to be audited than those earning $200K, too.
- adolph 8mo ago> 63% of the IRS' audits under the Biden admin targeted those earning sub-$200K. In 2022 92.3% of filers reported income of less than $200K [0]. An audit rate of 63% is lower than what one would expect if audit-attracting behavior was evenly distributed across the population. 0. https://www.irs.gov/statistics/soi-tax-stats-individual-statistical-tables-by-size-of-adjusted-gross-income https://www.irs.gov/statistics/soi-tax-stats-individual-stat...
- 0xy 8mo agoThe notion that audits should be evenly distributed is nonsense. Someone making sub-$200K usually has basic W2 income, versus someone making $20M a year who likely has an extremely complicated web of capital gains, deductions, strategies, carry-forward losses etc. It doesn't even make sense from a pure cash point of view. It's better for an agent to audit someone making $20M and win a $500K judgement than it is for them to audit 1,000 $25K earners and fleece them $500 a piece. What a waste. Audits should be exponentially lopsided, not targeted exclusively at the middle class.
- adolph 8mo agoWhy bother commenting if you don't have any data to back up your assertion? You can make claims about what "should" happen but that is just your fact-free opinion.