{"id":1083401,"date":"2021-12-04T09:44:05","date_gmt":"2021-12-04T14:44:05","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1083401"},"modified":"2021-12-04T09:44:07","modified_gmt":"2021-12-04T14:44:07","slug":"americans-twice-as-likely-to-experience-irs-audits-thanks-to-biden-spending-plan","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/americans-twice-as-likely-to-experience-irs-audits-thanks-to-biden-spending-plan\/","title":{"rendered":"Americans Twice As Likely To Experience IRS Audits Thanks To Biden Spending Plan"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Famericans-twice-as-likely-to-experience-irs-audits-thanks-to-biden-spending-plan%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1083401&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>A report from Republican members of the House Ways &amp; Means Committee reveals that Americans are more than twice as likely to experience an IRS audit under President Joe Biden\u2019s \u201ctax and spending spree.\u201d<\/p>\n<p>The $1.75 trillion Build Back Better Act <a href=\"https:\/\/www.dailywire.com\/news\/build-back-better-critics-say-accounting-gimmicks-additional-irs-enforcement-hiding-real-cost-to-americans\">includes<\/a> $80 billion in funding for the Internal Revenue Service \u2014 which includes the hiring of 87,000 more IRS agents and more than 1.2 million new federal tax audits each year.<\/p>\n<p>Citing Congressional Budget Office data, the <a href=\"https:\/\/gop-waysandmeans.house.gov\/americans-chances-of-audit-more-than-doubles-as-newly-supercharged-irs-targets-lower-middle-income-earners\/\">report<\/a> says:<\/p>\n<p>Democrats\u2019 tax and spending spree will more than double Americans\u2019 chances of being audited as it targets lower and middle-income earners. The proposal will lead to an additional 1.2 million IRS audits each year, nearly half of which will hit middle class families making less than $75,000. All this so Democrats can wring an extra $200 billion out of the American people, particularly from middle-class families and small businesses.<\/p>\n<p>The report further explains:<\/p>\n<p>Nearly half of these audits \u2014 over 583,000 \u2014 would be on Americans making up to $75,000 a year. Even the lowest income Americans would see more audits with a quarter of these audits \u2014 over 313,000 \u2014 hitting Americans making up to $25,000 per year. This also will mean more than 800,000 more federal tax liens on taxpayer property such as homes and vehicles.<\/p>\n<p>During a recent <a href=\"https:\/\/www.dailywire.com\/news\/smashmouth-with-small-businesses-tax-reform-expert-blasts-bidens-call-for-87k-more-irs-workers\">interview<\/a> with One America News, Grover Norquist \u2014 the president of Americans for Tax Reform \u2014 said that the Build Back Better Act will play \u201csmashmouth with small businesses.\u201d<\/p>\n<p>\u201cThe IRS has said they\u2019re going to increase going after small businesses 50%,\u201d Norquist asserted. \u201cBiden gives speeches about how they\u2019re going to go after big corporations and rich people. We know that\u2019s not true. Large corporations are already audited regularly; rich people get audited. Where they\u2019re planning to go, and where the IRS is telling us ahead of time, is to go after smaller businesses.\u201d<\/p>\n<p>\u201cA lot of them deal in cash; restaurants, nail salons, beauty salons, barber shops, food trucks; all of your neighborhood grocery stores. This is where the IRS is going to go after and harass small businesses,\u201d he continued. \u201cEven an audit can bankrupt a small business because of the time it takes away from actual work getting done.\u201d<\/p>\n<p>The Democrats\u2019 original social spending bill would have <a href=\"https:\/\/www.dailywire.com\/news\/biden-administration-partially-walks-back-irs-plan-to-track-most-transactions-over-600\">compelled<\/a> banks to report gross inflows and outflows to the IRS in accounts with balances above $600 at any time during the year. Once lawmakers raised concerns over potential violations of the Fourth Amendment \u2014 which prohibits unreasonable searches and seizures \u2014 Treasury Secretary Janet Yellen announced that the minimum balance would be raised from $600 to $10,000.<\/p>\n<p>\u201cToday\u2019s new proposal reflects the Administration\u2019s strong belief that we should zero in on those at the top of the income scale who don\u2019t pay the taxes they owe, while protecting American workers by setting the bank account threshold at $10,000 and providing an exemption for wage earners like teachers and firefighters,\u201d Yellen said. \u201cWe will continue to work with leaders in Congress to enact this important measure to level the playing field for workers and small businesses, and raise revenue to build our economy back better.\u201d<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A report from Republican members of the House Ways &#038; Means Committee reveals that Americans are more than twice as likely to experience an IRS audit under President Joe Biden\u2019s \u201ctax and spending spree.\u201dThe $1.75 trillion Build Back Better Act includes $80 billion in funding for the Internal Revenue Service \u2014 which includes the hiring of 87,000 more IRS agents and more than 1.2 million new federal tax audits each year.Citing Congressional Budget Office data, the report says:Democrats\u2019 tax and spending spree will more than double Americans\u2019 chances of being audited as it targets lower and middle-income earners. The proposal will lead to an additional 1.2 million IRS audits each year, nearly half of which will hit middle class families making less than $75,000. All this so Democrats can wring an extra $200 billion out of the American people, particularly from middle-class families and small businesses.The report further explains:Nearly half of these audits \u2014 over 583,000 \u2014 would be on Americans making up to $75,000 a year. Even the lowest income Americans would see more audits with a quarter of these audits \u2014 over 313,000 \u2014 hitting Americans making up to $25,000 per year. This also will mean more than 800,000 more federal tax liens on taxpayer property such as homes and vehicles.During a recent interview with One America News, Grover Norquist \u2014 the president of Americans for Tax Reform \u2014 said that the Build Back Better Act will play \u201csmashmouth with small businesses.\u201d\u201cThe IRS has said they\u2019re going to increase going after small businesses 50%,\u201d Norquist asserted. \u201cBiden gives speeches about how they\u2019re going to go after big corporations and rich people. We know that\u2019s not true. Large corporations are already audited regularly; rich people get audited. Where they\u2019re planning to go, and where the IRS is telling us ahead of time, is to go after smaller businesses.\u201d\u201cA lot of them deal in cash; restaurants, nail salons, beauty salons, barber shops, food trucks; all of your neighborhood grocery stores. This is where the IRS is going to go after and harass small businesses,\u201d he continued. \u201cEven an audit can bankrupt a small business because of the time it takes away from actual work getting done.\u201dThe Democrats\u2019 original social spending bill would have compelled banks to report gross inflows and outflows to the IRS in accounts with balances above $600 at any time during the year. Once lawmakers raised concerns over potential violations of the Fourth Amendment \u2014 which prohibits unreasonable searches and seizures \u2014 Treasury Secretary Janet Yellen announced that the minimum balance would be raised from $600 to $10,000.\u201cToday\u2019s new proposal reflects the Administration\u2019s strong belief that we should zero in on those at the top of the income scale who don\u2019t pay the taxes they owe, while protecting American workers by setting the bank account threshold at $10,000 and providing an exemption for wage earners like teachers and firefighters,\u201d Yellen said. \u201cWe will continue to work with leaders in Congress to enact this important measure to level the playing field for workers and small businesses, and raise revenue to build our economy back better.\u201dThe Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.\u00a0<\/p>\n","protected":false},"author":99,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1083401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1083401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1083401"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1083401\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1083401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1083401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1083401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}