{"id":1366711,"date":"2022-03-09T05:12:37","date_gmt":"2022-03-09T10:12:37","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1366711"},"modified":"2022-03-09T10:16:02","modified_gmt":"2022-03-09T15:16:02","slug":"nearly-half-of-irs-audits-target-poorest-taxpayers-report-finds","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nearly-half-of-irs-audits-target-poorest-taxpayers-report-finds\/","title":{"rendered":"Nearly Half Of IRS Audits Target Poorest Taxpayers, Report Finds"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/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%2Fnearly-half-of-irs-audits-target-poorest-taxpayers-report-finds%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=1366711&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--><div><img decoding=\"async\" src=\"https:\/\/dw-wp-production.imgix.net\/2022\/03\/Untitled-design-19-5.jpg?w=1200&#038;h=800&#038;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Nearly half of all IRS audits in 2021 targeted the nation\u2019s poorest taxpayers, according to a new study.<\/p>\n<p>A <a href=\"https:\/\/trac.syr.edu\/tracirs\/latest\/679\/\" target=\"_blank\" rel=\"noopener\">report<\/a> released by the Transactional Records Access Clearinghouse (TRAC) on Tuesday said that about 307,000 of the nearly 660,000 audits conducted by the IRS in 2021 were among taxpayers who claimed the Earned Income Tax Credit intended for those making the lowest incomes in the nation, those earning less than $25,000 in total gross receipts.<\/p>\n<p>The poorest families in the study were audited at five times the rate of other Americans.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">IRS Audits Poorest Families at Five Times the Rate for Everyone Else <a href=\"https:\/\/twitter.com\/TRACReports?ref_src=twsrc%5Etfw\">@TRACReports<\/a> <\/p>\n<p>New data show that low-income wage earners with less than $25,000 in total gross receipts are audited at a rate five times higher than for everyone else. \ud83e\uddf5<a href=\"https:\/\/t.co\/g5P1Xumdo3\">https:\/\/t.co\/g5P1Xumdo3<\/a> <a href=\"https:\/\/t.co\/DmC0boZV6L\">pic.twitter.com\/DmC0boZV6L<\/a><\/p>\n<p>\u2014 Austin Kocher, PhD (@ackocher) <a href=\"https:\/\/twitter.com\/ackocher\/status\/1501231934151745540?ref_src=twsrc%5Etfw\">March 8, 2022<\/a><\/p>\n<\/blockquote>\n<p>\u201cEven taxpayers with total positive income from $200,000 to $1,000,000 had only 1\/3 the odds of audit compared with these lowest-income wage earners: 4.5 out of every 1,000 compared to 13.0 out of every 1,000 of lowest-income earners,\u201d the study noted.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">In 2021, Americans with total positive income $200k to $1M were audited at the rate of 4.5 out of every 1,000. <\/p>\n<p>Americans with less than $25,000 in total gross receipts were audited at a rate of 13.0 out of every 1,000.<\/p>\n<p>Read the report here: <a href=\"https:\/\/t.co\/UGkGcpjNDc\">https:\/\/t.co\/UGkGcpjNDc<\/a><\/p>\n<p>\u2014 TRAC Reports (@TRACReports) <a href=\"https:\/\/twitter.com\/TRACReports\/status\/1501243659521568771?ref_src=twsrc%5Etfw\">March 8, 2022<\/a><\/p>\n<\/blockquote>\n<p>\u201cDoes it make sense from either an equity or revenue standpoint to focus IRS\u2019s limited firepower on the poorest taxpayers among us \u2013 those with incomes so low they have filed returns claiming an anti-poverty earned income tax credit? This question alone raises profound issues,\u201d the study asked.<\/p>\n<p>In contrast, far fewer millionaire audits were conducted. \u201cIRS recorded 617,505 millionaire returns filed that were available to be audited in FY 2021. With only 13,725 millionaire audits last year, more than 600,000 millionaire returns were NOT audited,\u201d according to the report.<\/p>\n<p>This meaning of the 660,000 audits in 2021, only 13,725 were among Americans with an income of $1 million or more.<\/p>\n<p>\u201cDuring FY 2021 IRS revenue agents and tax examiners audited 13,725 taxpayers reporting $1 million dollars or more in positive income, up from the small numbers audited during FY 2020 (11,331), but still slightly below FY 2019 (13,970),\u201d according to the report.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">During FY 2021 IRS revenue agents and tax examiners audited 13,725 taxpayers reporting $1 million dollars or more in positive income, up from the small numbers audited during FY 2020 (11,331), but still slightly below FY 2019 (13,970).<\/p>\n<p>\u2014 Austin Kocher, PhD (@ackocher) <a href=\"https:\/\/twitter.com\/ackocher\/status\/1501232226767622145?ref_src=twsrc%5Etfw\">March 8, 2022<\/a><\/p>\n<\/blockquote>\n<p>The study also emphasized that the bias is not new. In a press release highlighting the study, TRAC emphasized, \u201cThis unfortunate situation is not new. History is just repeating itself. More than twenty years ago, TRAC similarly reported that \u2018low income taxpayers now stand a greater chance of being audited than higher income taxpayers.\u2019\u201d<\/p>\n<p>The Biden administration partially scaled back plans to monitor Americans\u2019 overall bank account transactions, at one point intending to investigate any transaction of $600 or more. The Daily Wire <a href=\"https:\/\/www.dailywire.com\/news\/biden-administration-partially-walks-back-irs-plan-to-track-most-transactions-over-600\" target=\"_blank\" rel=\"noopener\">reported<\/a>:<\/p>\n<blockquote>\n<p><em>The Democrats\u2019 pending $3.5 trillion social spending bill originally contained a proposal that would have compelled banks to report gross inflows and outflows in accounts with balances above $600 at any time during the year. After many lawmakers raised concerns over potential violation of the Fourth Amendment \u2014 which prohibits unreasonable searches and seizures \u2014 Treasury Secretary Janet Yellen\u00a0<a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/jy0416\">announced<\/a>\u00a0on Tuesday that the minimum balance would be raised from $600 to $10,000:<\/em><\/p>\n<p><i>Today\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. We 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.<\/i><\/p>\n<\/blockquote>\n<p><em>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\u00a0<a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nearly half of all IRS audits in 2021 targeted the nation\u2019s poorest taxpayers, according to a new study.A report released by the Transactional Records Access Clearinghouse (TRAC) on Tuesday said<\/p>\n","protected":false},"author":1,"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-1366711","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\/1366711","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1366711"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1366711\/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=1366711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1366711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1366711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}