{"id":1601264,"date":"2022-08-11T13:18:49","date_gmt":"2022-08-11T17:18:49","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1601264"},"modified":"2022-08-11T13:19:46","modified_gmt":"2022-08-11T17:19:46","slug":"yellen-tells-irs-not-to-target-middle-income-americans-with-audits-as-crackdown-fears-swirl","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-tells-irs-not-to-target-middle-income-americans-with-audits-as-crackdown-fears-swirl\/","title":{"rendered":"Yellen Tells IRS Not to Target Middle-Income Americans With Audits as Crackdown Fears Swirl"},"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\">28<\/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%2Fyellen-tells-irs-not-to-target-middle-income-americans-with-audits-as-crackdown-fears-swirl%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=1601264&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>Treasury Secretary <a href=\"https:\/\/www.theepochtimes.com\/t-janet-yellen\">Janet Yellen<\/a> has ordered the Internal Revenue Service (<a href=\"https:\/\/www.theepochtimes.com\/t-irs\">IRS<\/a>) not to send tax enforcers to <a href=\"https:\/\/www.theepochtimes.com\/t-audit\">audit<\/a> households making less than $400,000 per year after concerns were raised that a massive funding boost to the agency would be used to crack down not on wealthy tax dodgers but to bully middle-income Americans.<\/p>\n<p>The Inflation Reduction Act, which recently cleared the Senate in a partisan vote and is expected to be approved by the House as soon as Friday, allocates some $80 billion in additional funding for the IRS, with a portion earmarked for increased enforcement such as audits.<\/p>\n<p>Yellen said in an <a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/jy0918\">Aug. 10 letter<\/a> to IRS Commissioner Charles Rettig that the \u201cmuch-needed\u201d funding would be used to modernize outdated technological infrastructure, improve taxpayer service, and enforce tax laws against high-earners and big corporations that don\u2019t pay what they owe in taxes.<\/p>\n<p>She vowed that audit rates wouldn\u2019t increase for households making less than $400,000 per year.<\/p>\n<p>\u201cSpecifically, I direct that any additional resources\u2014including any new personnel or auditors that are hired\u2014shall not be used to increase the share of small business or households below the $400,000 threshold that are audited relative to historical levels,\u201d Yellen said.<\/p>\n<p>\u201cThis means that, contrary to the misinformation from opponents of this legislation, small business or households earning $400,000 per year or less will not see an increase in the chances that they are audited,\u201d she added.<\/p>\n<p> <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/GettyImages-1233340846-1200x810-1.jpg\"><\/a> Charles P. Rettig, commissioner of the Internal Revenue Service, testifies during a Senate Finance Committee hearing on the IRS budget request on Capitol Hill in Washington, on June 8, 2021. (Tom Williams\/POOL\/AFP via Getty Images) Audits Targeting Middle-Income Americans? <\/p>\n<p>Republicans have speculated that the money would be used to hire tens of thousands of IRS agents while arguing that their enforcement efforts would target ordinary Americans.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Treasury Secretary Janet Yellen has ordered the Internal Revenue Service (IRS) not to send tax enforcers to audit households making less than $400,000 per year after concerns were raised that a massive funding boost to the agency would be used to crack down not on wealthy tax dodgers but to bully middle-income Americans. The Inflation [\u2026]<\/p>\n","protected":false},"author":118,"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-1601264","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\/1601264","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\/118"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1601264"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1601264\/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=1601264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1601264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1601264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}