Tag: tax audits

IRS Targeted More ‘Easy-Mark’ Low-Income Families Than Millionaires, Says Report

January 8, 2023
IRS - U.S. Internal Revenue Servicelow-income familiesPolicies & ImpactsPoliticsrevenue auditSocial Issuestax auditstax filingUSUS News
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The IRS is continuing its historic trend of pursuing more low-income groups as relatively fewer billionaires and millionaires have come under its audit sweep, according to a recent report by Syracuse University’s Transactional Records Access Clearinghouse (TRAC). During fiscal year 2022, millionaires “did have the highest odds of being audited. However, if one ignores the…

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IRS Targeted More ‘Easy-Mark’ Low-Income Families Than Millionaires, University Report

January 8, 2023
IRS - U.S. Internal Revenue Servicelow-income familiesPolicies & ImpactsPoliticsrevenue auditSocial Issuestax auditstax filingUSUS News
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The IRS is continuing its historic trend of pursuing more low-income groups as relatively fewer billionaires and millionaires have come under its audit sweep, according to a recent report by Syracuse University’s Transactional Records Access Clearinghouse (TRAC). During fiscal year 2022, millionaires “did have the highest odds of being audited. However, if one ignores the…

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Supercharged IRS Will Collect $20 Billion More From Americans Making Less Than $400,000 Under Inflation Reduction Act: Report

August 13, 2022
000400Business & MarketscongressDemocratseconomic policieseconomyIRSPolicies & ImpactsPoliticstax auditsUSUS News
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Republicans on the House Ways and Means Committee say they have received information from the non-partisan scorekeeper at the Congressional Budget Office (CBO) challenging the Biden administration’s narrative that Americans making less than $400,000 a year won’t see higher IRS audit rates. The remarks came in an Aug. 12 statement that was published as the…

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