Thursday August 4, 2022 – The Inflation Reduction Act (yeah, right) proposes doubling the size of the IRS to collect more taxes by increasing audits on wealthy tax cheats.
Today, IRS Commissioner Charles Rettig promised “These [additional] resources are absolutely not about increasing audit scrutiny on small businesses or middle-income Americans. As we have been planning, our investment of these enforcement resources is designed around Treasury’s directive that audit rates will not rise relative to recent years for households making under $400,000.”
So, not to worry America – the IRS isn’t coming after you. Or, are they?
Attorney Steven A. Leahy looks at the IRS promises and helps you decide if you can count on those promises.