The Build Back Better Act (BBB) sets aside $80 Billion For the IRS. With that increase, the IRS plans on hiring 87.000 new IRS workers to target “wealthy” taxpayers.
However, as Elon Musk points out, there are only 614 billionaires in America. And, “[t]he IRS already has dedicated audit teams for high net worth individuals. The doubling of staff is for everyone else,” Musk warned,
The Administration has already told us not to pay attention to the warned Congressional Budget Office’s analysis – “The CBO has previously underestimated the revenues that increased enforcement would raise.”
Attorney Steven A. Leahy opines on these important issues on Today’s Tax Talk.
Steven A. Leahy is a tax attorney in Illinois. He was the host of the long-running popular Radio Show “The IRS Radio Hour” heard every Sunday evening on AM 560 The Answer. Attorney Leahy is also the author of the book “Deal With Your IRS Problems Today!” You can get a FREE copy of this important book at FreeIRSBook.com. Or Call 24/7 (312)664-6649