Sunday, August 14, 2022

Janet Yellen Promises No Rise In IRS Audits For Middle-Income Americans There's A Small Catch

Treasury Secretary Janet Yellen promised on Wednesday that the Internal Revenue Service audit rates for Americans making less than $400,000 a year wouldn't increase. That sounds like great news, right?. Well, that's not entirely accurate. According to The Daily Wire, the catch is that the rate of audits wouldn’t increase according to historic levels.

This is a prime example of the radical left in positions of power using and abusing the use of language to trick folks into thinking the IRS isn't up to something dirty and underhanded

  • Yellen argued that the funding would help the IRS "improve taxpayer service" and "increase equity in the tax system" rather than allow the agency to target middle-income Americans
  • "I direct that any additional resources - including any new personnel or auditors that are hired - shall not be used to increase the share of small business or households below the $400,000 threshold that are audited relative to historical levels," Yellen told Rettig.
  • Another report from the Congressional Budget Office found that audit rates would rise for all taxpayers, even as higher-income taxpayers face the largest increase

She then referenced a letter Rettig addressed to congressional lawmakers just a week ago in which he promised that the agency would not use the new 87,000 employees it's planning to hire to target taxpayers by "increasing audit scrutiny on small businesses or middle-income Americans."

  • "As an extremely proud American, I'm grateful for your support of the IRS and our dedicated employees," RettIG stated. "These resources will be transformative for the agency and for American taxpayers."

https://trendingpolitics.com/janet-yellen-promises-no-rise-in-irs-audits-for-middle-income-americans-however-theres-a-small-catch-micca/ 

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