80% of new IRS revenue will come from small businesses earning under $200K: tax experts

Democrats want to destroy small businesses because they want everyone to be a corporate drone at some woke multinational conglomerate.

It was $80B that the new IRS which is almost doubled in size will add in spending and was allocated. Insane.And they are not coming for the Billionaire with these resources , trust me. Even Bernie got to the lectern and said how this will not decrease Inflation, naming this bill what they did, was such an obvious shame from jump street.

It looks like you'll have to reign in the fake 'business expenses' then, small biz owners. I have no doubt that NONE of the businesses in the US pay their fair share. The large corporations have bought and paid for a tax code that lets them skate. The small businesses play their game through inflated expense claims and write-offs.

In any event a more robust IRS, which the rethuglicans have been busy trying to kill for decades now, will at least cause filers to think twice about whether their returns are accurate and that will increase revenues.

Who knows but that maybe we'll actually be able to enjoy decent infrastructure and public amenities like every other industrialized country in the world. Would be nice huh?

fake? Everything is fake, for those who are on the dole or envious of those who work for a living.

I am still waiting for my refund from 2019, which the IRS says they are either working on or have lost, depending on who I speak to. What a joke. What is fake is this government that thinks they are helping the public.

Your link states "increased funding". It is actual "restore finding" which has been reduced by conservatives every chance they get ... to improve the odds of not getting audited and caught cheating on taxes.

Spoken like a true socialist. You must have not spent much time outside of the US if you think our infrastructure is not good. I honestly do not believe there is as much evasion that a boatload of IRS will be able to track down that they claim. Their current assessments of under reporting (they assess about 25% of what they can and prioritize the low hanging fruit first) result in an average of about $1,500 in additional taxes per case. The reality is they probably will get cases with less additional revenue that will be harder to discern (and it takes about 5 years to train an agent properly). My guess is that the additional revenue they are counting on will end up less than they anticipate and will take longer to see to fruition (and will likely cost more than they anticipate). I guess it's a good time to have an accounting degree, though.

No, the hypothesis is added funding pays for itself. The fact will be bigtime disappointment.

Innocent people and businesses who pay their taxes get audited all of the time and will so with increasing frequency with 80,000 new IRS agents. It's an expensive undertaking to prove your innocence in an IRS audit

Additional funding through coerced audit settlements. Less expensive to pay off the IRS than prove your innocence.

Did you take the time to assess it yourself with your amazing tax expertise or are you just regurgitating what your catered news tells you to regurgitate?

I thought you said you were a "tax professional?"

So now the (apparent) tax cheats are chiming in to complain about a more robust IRS, which the rethuglicans tried to kill in recent decades.

I guess cheating will get a little more risky eh fellas?

It'll be nice to see biz types gnash their teeth at the bureaucrats forcing them to grab their checkbooks!

A lot of “defund the tax police” proponents on here.

The goal is to do anything they can to destroy future business development and innovation. Multi-national corporations that already own 95% of our politicians don't want competition coming from Joe Nobody. Plus, the IRS can now really target all their political opponents in the ways that Obama started during his official 1st term. Now in Obama term 3, they'll have the firepower to really attack those of us that oppose this anti-American leadership we've been getting from DC. It won't matter if you've broken the tax code or not, there is so much ambiguity in the code that all of us are accidentally a cheat if the right perspective is used and enough years are reviewed.

I just hope they show just as much interest in reviewing the financials of BLM and other Soros funded npos as they demonstrated in auditing conservative PACs during Obama's tenure.

Crime in this country is out of control! We need to start enforcing the law NOW!!

Wait... not THOSE laws!