Stringfellow Hawk
Member
Biden's IRS targets small businesses, families
More than 90% of audits on families and small businesses below $400,000 threshold.
For months, Republicans warned President Joe Biden’s push to hire 87,000 Internal Revenue Service (IRS) agents in the Inflation Act would pave the way for more audits on small businesses and families across America. The president, his administration, and Democrats in Congress have gone to great lengths to attempt to dispute this fact.
Yet Treasury Secretary Janet Yellen – when asked about the number of new audits funded by the Inflation Act before the House Ways and Means Committee last week – admitted the proportion of new audits on individuals and small businesses making under $400,000 would remain in line with historic levels.
According to the nonpartisan Government Accountability Office, more than 90% of audits are on families and small businesses below the $400,000 income threshold.
https://www.foxbusiness.com/small-b...usinesses-families-army-87000-agents-defunded
More than 90% of audits on families and small businesses below $400,000 threshold.
For months, Republicans warned President Joe Biden’s push to hire 87,000 Internal Revenue Service (IRS) agents in the Inflation Act would pave the way for more audits on small businesses and families across America. The president, his administration, and Democrats in Congress have gone to great lengths to attempt to dispute this fact.
Yet Treasury Secretary Janet Yellen – when asked about the number of new audits funded by the Inflation Act before the House Ways and Means Committee last week – admitted the proportion of new audits on individuals and small businesses making under $400,000 would remain in line with historic levels.
According to the nonpartisan Government Accountability Office, more than 90% of audits are on families and small businesses below the $400,000 income threshold.
https://www.foxbusiness.com/small-b...usinesses-families-army-87000-agents-defunded