{"id":1604708,"date":"2022-08-13T11:48:13","date_gmt":"2022-08-13T15:48:13","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1604708"},"modified":"2022-08-13T11:48:16","modified_gmt":"2022-08-13T15:48:16","slug":"supercharged-irs-will-collect-20-billion-more-from-americans-making-less-than-400000-under-inflation-reduction-act-report","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/supercharged-irs-will-collect-20-billion-more-from-americans-making-less-than-400000-under-inflation-reduction-act-report\/","title":{"rendered":"Supercharged IRS Will Collect $20 Billion More From Americans Making Less Than $400,000 Under Inflation Reduction Act: Report"},"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\">36<\/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%2Fsupercharged-irs-will-collect-20-billion-more-from-americans-making-less-than-400000-under-inflation-reduction-act-report%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=1604708&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>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\u2019s narrative that Americans making less than $400,<a href=\"https:\/\/www.theepochtimes.com\/t-000\">000<\/a> a year won\u2019t see higher <a href=\"https:\/\/www.theepochtimes.com\/t-irs\">IRS<\/a> audit rates.<\/p>\n<p>The remarks came in an <a href=\"https:\/\/gop-waysandmeans.house.gov\/cbo-new-irs-audits-will-grab-at-least-20b-from-lower-middle-income-families\/\">Aug. 12 statement<\/a> that was published as the Democrat-controlled House passed the Inflation Reduction Act, which includes nearly $46 billion in additional funding for IRS enforcement of the $80 billion or so total funding boost to the tax agency.<\/p>\n<p>Committee Republicans said that the CBO statement they were provided with confirms that, under the new legislation, lower and middle-income Americans will be squeezed harder by the tax man to the tune of at least $20 billion.<\/p>\n<p> \u2018Supercharged IRS\u2019 Coming For Middle-Income Americans <\/p>\n<p>This figure was arrived at by calculating how much less tax revenue would flow into government coffers if legislators had accepted amendment 5404 (<a href=\"https:\/\/gop-waysandmeans.house.gov\/wp-content\/uploads\/2022\/08\/5404.Crapo11.pdf\">pdf<\/a>) proposed by Sen. Mike Crapo (R-Idaho) that explicitly called for none of the funds appropriated under the Inflation Reduction Act to be used to audit taxpayers making less than $400,000 a year.<\/p>\n<p>\u201cThe Congressional Budget Office (CBO) confirms that had this amendment passed and lower- and middle-income taxpayers been protected, revenue in Democrats\u2019 bill would have been reduced by at least $20 billion,\u201d Committee Republicans said.<\/p>\n<p>This confirms that \u201cat least $20 billion of the $124 billion in new revenue expected by a supercharged IRS will be coming from higher audits on low- and middle-income Americans\u201d and that this would be \u201cin addition to existing audits on these income levels.\u201d<\/p>\n<p>The Epoch Times has reached out to the CBO with a request for confirmation of the scorekeeper\u2019s assessment and comment, with no response received by publication.<\/p>\n<p> \u2018Absolutely Not\u2019 Increasing Audit Scrutiny? <\/p>\n<p>Republicans said the CBO statement proves that<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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\u2019s narrative that Americans making less than $400,000 a year won\u2019t see higher IRS audit rates. The remarks came in an Aug. 12 statement that was published as the [\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-1604708","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\/1604708","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=1604708"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1604708\/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=1604708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1604708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1604708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}