The Senate approved nearly $80 billion in IRS funding with $45.6 billion for 'enforcement.' Here's who may be affected by more audits.
Overall, IRS audits plunged by 44% between fiscal years 2015 and 2019, according to a 2021 Treasury Inspector General for Tax AdministrationWhile audits dropped by 75% for Americans making $1 million or more, the percentage fell by 33% for low-to-moderate income filers claiming theOur biggest worry in this is that the burden for these audits will land on Walmart shoppers.
"The resources to modernize the IRS will be used to improve taxpayer services — from answering the phones to improving IT systems — and to crack down on high-income and corporate tax evaders who cost the American people hundreds of billions of dollars each year," according to a Treasury official.that the funding may cover about 87,000 employees, which has been widely reported.
"The majority of new employees will replace the standard level of staff departures over the next few years," the Treasury official said.Currently, the IRS uses software to rank each tax return with a numeric score, with higher scores more likely to trigger an audit. The system may flag a return when deductions or credits compared to income fall outside of acceptable ranges.
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With 87,000 New Agents, Here's Who the IRS May Target for AuditsThe Senate approved nearly $80 billion in IRS funding with $45.6 billion for 'enforcement.' Here's who may be affected by more audits.
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In Alaska’s U.S. Senate race, Murkowski and Tshibaka look ahead to NovemberWith just a few days before primary election day, U.S. Sen. Lisa Murkowski was campaigning less than half the time and Trump-backed candidate Kelly Tshibaka called the primary “a mile marker.”
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In the Pennsylvania Senate race, what motivates voters is complicatedERIE, Pennsylvania — Every election cycle in America, plenty of people will decide, for one reason or another, not to show up to vote. Their reasons often vary. They may not like either candidate's personality or may not feel either candidate represents their views — or they just don’t think the…
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NY Senate primary pits Bronx incumbent Gustavo Rivera against Miguelina Camilo“Our biggest opponent is apathy,” State Sen. Gustavo Rivera said. “There's people that are either not knowledgeable that there’s a primary coming up, or they’re like, ‘Another one?’ It is a very big challenge to be able to connect with voters.”
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In Alaska’s U.S. Senate race, Murkowski and Tshibaka look ahead to NovemberRepublican Alaska Sen. Lisa Murkowski, along with Trump-backed Republican Kelly Tshibaka and Democrat Pat Chesbro, are likely to be the candidates with the top three vote totals, freeing them to look ahead to the November general election.
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