Tag: IRS audits

NTD Business (April 7): JPMorgan Discrimination Probe up for Vote; IRS Pledges More Audits of Wealthy

April 7, 2023
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Is the U.S. labor market starting to cool? The U.S. economy added 236,000 jobs in March—lower than February numbers. An economic analyst tells us that moderation is the theme of the day. The IRS releases details on how it plans to use $80 billion in new funding for improved operations. It is pledging more audits…

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How Seniors Can Avoid an IRS Tax Audit

February 21, 2023
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Many people, particularly retirees, are often surprised when they get notified of a tax audit by the Internal Revenue Service. Being audited can be unnerving, especially when some seniors think they are immune. The reality is that the IRS can audit anyone if the IRS thinks that tax forms are not honestly reporting income, expenses,…

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How Will Increased IRS Staffing Affect Americans?

September 13, 2022
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The Inflation Reduction Act is adding 87,000 IRS agents. With current staffing at 79,000, this more than doubles the IRS roster. This will return IRS personnel numbers to 1990 levels. The argument for the increase is tax enforcement of wealthy individuals and corporations. The projections and arguments may not hold up when analyzed. How will…

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LIVE 5 PM ET: 45% in US Concerned About Tax Audits: Poll; AG Says He Personally Approved FBI’s Raid | NTD Business

August 11, 2022
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Almost half of Americans are worried about more tax audits. This comes right before the House votes on a new bill to double the size of the agency. The Justice Department gives its first public statement about the FBI raid on former President Trump’s home. Who approved it? The average gas price falls below four dollars a gallon…

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45% in US Concerned About Tax Audits: Poll; AG Says He Personally Approved FBI’s Raid | NTD Business

August 11, 2022
attorney general merrick garlandEpochTVgas pricesIRS auditsLive VideosNTD BusinessVideo
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Almost half of Americans are worried about more tax audits. This comes right before the House votes on a new bill to double the size of the agency. The Justice Department gives its first public statement about the FBI raid on former President Donald Trump’s home. Who approved it? The average gas price falls below $4 a gallon…

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9 Red Flags that Could Lead to a Tax Audit

May 9, 2022
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The IRS chooses some taxpayers and audits their tax returns every year. And an audit is examining or reviewing your informations and accounts to ensure you’re reporting things correctly and following the tax laws, which is troublesome for taxpayers. In 2016, the IRS audited one million tax returns. Although this is less than one percent of the…

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Republicans Warn Biden’s IRS $600 Disclosure Plan Could Lead to ‘Surveillance State’

October 11, 2021
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Republicans are sounding the alarm over a proposal tucked inside the Democrats’ 2,500-page $3.5 trillion Build Back Better Act that would expand the Internal Revenue Service (IRS) and allow the agency to have access to any bank transaction of $600 or more. The proposal would give the IRS further access to anyone’s financial information, which Republicans say…

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