The Middle Class Won’t Escape the New IRS Audit Wave

Democrats spent last week vowing that only high earners would be squeezed under their plan to beef up the Internal Revenue Service. It took only a few days for the Congressional Budget Office to finish this narrative. A quick analysis of the budget scorer confirms that the expansion of audits will ensnare small and medium-sized companies.

The CBO made this clear in an Aug. 12 letter to Sen. Mike Crapo, who had tried to tie the Democrats to their promise to limit exams to high earners. If the IRS’s expansion plan “isn’t about people making less than $400,000,” according to the White House press secretary Karine Jean Pierre claims, why shouldn’t that be clarified in the bill? Mr Crapo proposed an amendment to ensure new audits would exclude taxpayers earning less than $400,000, but Democrats voted 51-50 against.

https://www.wsj.com/articles/middle-class-wont-escape-the-audit-wave-irs-audits-cbo-taxpayers-tax-court-expansion-internal-revenue-service-billions-11660499499 The Middle Class Won’t Escape the New IRS Audit Wave

Alley Einstein

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