Probably takes at least 18 months just to teach someone how to surreptitiously identify Republicans without raising red flags.
86 Thousand New IRS Field Agents, Why?
- Thread starter Lucy01
- Start date
If that lady is opening her mouth, it’s a good bet that what is coming out is wrong. But I’ll give her credit for one thing, she owned up to being wrong about inflation.Going to be fun to watch the BDS folks here pivot away from "The middle class will suffer" and toward "This is nothing but class warfare."
Yellen directs IRS not to use new funding to increase chances of audits of Americans making less than $400,000 | CNN Politics
Treasury Secretary Janet Yellen on Wednesday directed the Internal Revenue Service not to use any of the new funding allocated in the Democrats' new health care and climate bill to increase the chances of Americans making less than $400,000 a year getting audited, according to a copy of the...www.cnn.com
That’s makes exactly one person in this administration who is capable of admitting a mistake.
Correct, liberal Democrats on the other hand should only require a few days
Its simply trying to find money.
The first move to simply raise taxes but that will never happen.
The second is to re-allocate funds but the Republicans say no.
The third response is to simply better enforce the tax laws that are already out there. This avoids raising any tax. They are trying to better collect the tax that is owed.
The ones who will be affected will be those that are currently cheating.
Even then the IRS is still woefully understaffed to go after every cheater, which is why they'll most likely go after big fish.
Still, it's hard to argue against enforcing current rules and regulations in general isn't it?
It's estimated that there is 380 billion in tax fraud each year. That's not jay walking fines.
The first move to simply raise taxes but that will never happen.
The second is to re-allocate funds but the Republicans say no.
The third response is to simply better enforce the tax laws that are already out there. This avoids raising any tax. They are trying to better collect the tax that is owed.
The ones who will be affected will be those that are currently cheating.
Even then the IRS is still woefully understaffed to go after every cheater, which is why they'll most likely go after big fish.
Still, it's hard to argue against enforcing current rules and regulations in general isn't it?
It's estimated that there is 380 billion in tax fraud each year. That's not jay walking fines.
The whole problem with the idea it only affects those that are cheating is this. If they decide to audit you , you have to prove you aren't doing anything wrong and even if you aren't they can still turn it into a huge hassle. Do you like having a cop follow you for miles even if you know you arent speeding and the last time you checked your tail lights were all working but the cop is right behind you and you make a turn and still following you? Does it change the way you drive and how much you look in your rear view mirror even though you know you arent doing anything wrong?
Curious as to how they can estimate how much tax fraud there is?
Maybe a better place to spend money auditing is how tax dollars are spent and waste in the government. The 380 billion would be a drop in the bucket on that.
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Maybe, just maybe, we could simplify the tax code so we don't have to hire more agents. See the chart in the attached article. Ridiculous amount of tax law growth.
How Many Words are in the Tax Code?
The tax code is huge and complex. But how huge and complex is it?
taxfoundation.org
The overwhelming majority of rich people do not cheat on their taxes. It would never be worth the trouble to them if they got caught. They pay CPAs to work around shitty tax code. (shitty legal tax code).
This is 100% about shaking down people with “hustles.” These gigs are a major funnel in the current US economy.
This is 100% about shaking down people with “hustles.” These gigs are a major funnel in the current US economy.
This thread is a clown show of political talking point idiocy. Not a surprise, based upon who started it.
Armed IRS agents? LMAO. There are something like 2k IRS Special Agents that are part of the criminal division. And they operate globally for capturing people that have literal criminal tax evasion charges pending. They have been in existence since the first revenue agents going back to the 1920s..... they were the agents that went after Al Capone, etc.... and there is no job posting based upon a bill that passed a week ago. If you know anything about the Feds... it will take them a year+ before HR is ready to even put a job posting out based upon new funding.
Now to the bill today on increasing IRS enforcement. Bottom line, the IRS has a serious staffing issue....I don't know the latest numbers, but their workforce has been dwindling for years. And something like half the agency is eligible for retirement in the next 5-10 years.
They also have serious technology problems. Most of their software is written in COBOL. And staffed by a bunch of gray haired programmers. Good luck hiring anyone young that knows jack shit about COBOL. My understanding is that the vast majority of this funding will go towards IT staff to get their tech out of the 1970s.
I'm not one to defend the IRS.... but some of the nonsense I've seen on here, by people that should know better (@mcmurtry66 ) is embarrassing
As mentioned elsewhere.... there is a massive tax gap in this country. Estimates are $400-$500 billion/ year of shortfall of what is owed vs collected.
Armed IRS agents? LMAO. There are something like 2k IRS Special Agents that are part of the criminal division. And they operate globally for capturing people that have literal criminal tax evasion charges pending. They have been in existence since the first revenue agents going back to the 1920s..... they were the agents that went after Al Capone, etc.... and there is no job posting based upon a bill that passed a week ago. If you know anything about the Feds... it will take them a year+ before HR is ready to even put a job posting out based upon new funding.
Now to the bill today on increasing IRS enforcement. Bottom line, the IRS has a serious staffing issue....I don't know the latest numbers, but their workforce has been dwindling for years. And something like half the agency is eligible for retirement in the next 5-10 years.
They also have serious technology problems. Most of their software is written in COBOL. And staffed by a bunch of gray haired programmers. Good luck hiring anyone young that knows jack shit about COBOL. My understanding is that the vast majority of this funding will go towards IT staff to get their tech out of the 1970s.
I'm not one to defend the IRS.... but some of the nonsense I've seen on here, by people that should know better (@mcmurtry66 ) is embarrassing
As mentioned elsewhere.... there is a massive tax gap in this country. Estimates are $400-$500 billion/ year of shortfall of what is owed vs collected.
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Per Google, there were 281 million tax returns in 2021.
There are currently around 78,000 irs agents.
That's 3,602 returns per one agent each year.
I've been audited (my broker didn't send in the buying prices of the stocks I bought when I was day trading, which I didn't make a profit but it looked like I made millions because their sheet defaulted my buying price as zero) and yeah, I immediately shit my pants because the penalties were more than my total worth....like exponentially more.
But my broker fixed it, we sent what they asked for and I got a letter basically saying 'thank you we're cool' from the IRS.
I also play in bar bands and have for, jesus now 30 some years off and on. That's a majority of self reporting. Around 10k to 40k a year.
I've never been once threatened with an audit from my band stuff.
Point being, that's small potatoes.
This is a money generator. Small fish aren't hiding the kinds of money they are needing to get to justify the investment and the time it takes IMO.
Reasonable description here
www.cbsnews.com
The IRS wants to spend billions on "enforcement." Here's who is most likely to get audited.
Inflation Reduction Act's $80 billion in IRS funding would come as the risk of getting audited is at a decade-long low.
www.cbsnews.com
Is this something that we can do bi-partisanly and quickly?Maybe, just maybe, we could simplify the tax code so we don't have to hire more agents. See the chart in the attached article. Ridiculous amount of tax law growth.
How Many Words are in the Tax Code?
The tax code is huge and complex. But how huge and complex is it?
Yes that's a rhetorical question.
Personally I've been a flat tax proponent since I started paying my own taxes (and as a proponent of paying them once a year when they are due in a 'I don't know how much I'm going to make plus why aren't you paying me back multiple times a year since I'm paying in multiple times) so I'm all for simplifying taxes.
In the meantime there are hundreds of billions in tax fraud that is not being paid.
Small Business owners dont use GAAP..... that is for large public companies. Small business mostly use cash accounting.
I'd much rather move to a consumption based tax system.... taxing income is incredibly difficult. Paul Ryan attempted to push such a system forward but was thwarted by the Trump admin.....as Trump was too confused by it.
You've missed the point. You could read for yourself where the money is earmarked. And yes technology upgrades, staffing, replacing soon to be retired, but of 80 billion allocated over half is for enforcement. Tax revenue from greater enforcement is what is purportedly paying for this inflation bill.
The point is that the Dems have sold this as going after the wealthy tax cheats, we've heard for months about billionaires and their fair share, but the truth is over half of this money is earmarked for enforcement and that will fall on people making under 200,000k and small businesses. The nonpartisan joint committee said that's where 90 percent of the rev will come from. If you are okay with that, fine. But what was sold re wealthy tax cheats is as disingenuous as calling the bill The Inflation Reduction Act. That's the point.
Honesty would be we are providing 80 billion dollars to the irs. Some of this money will be used for necessary updates and staffing while 46 billion will be earmarked for enforcement primarily targeting small businesses and those making less than 200k to support our clean energy and health savings bill.
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I understand that re GAAP. I noted it because uncle mark mentioned that he has a basic understanding of it and I was highlighting his college degree and basic understanding of gaap to show how much more knowledgeable he is than many small business owners. I'm fairly certain less than half of all business owners possess a college degree
The employees do all the work and the owners get filthy rich!
Small business owners don’t use Quickbooks?
Your suggestion that GAAP is only for “large public companies” is not even remotely true FYI.
These agents are not being hired to fix the purported COBOL issue with their software LMAO.
Your post is a “clown show of political talking point idiocy” from your team.
Maybe just type the last two sentences of your post and leave it at that.
We should all be for people paying the taxes they owe. I thought wanting people to pay the taxes they owe was a Republican thing until I read some of the posts on the WC over the past couple days. I'm still for it even if some of my fellow Republicans aren't for some strange reason(s) I can't comprehend. $380 billion (or as much as $500 billion) is a lot of money. It would be enough to cover the interest on our debt.
For sure. We should all pay what we owe. The issue I have with it is dishonesty in who will be targeted. It won't be the wealthy and billionaires as claimed it'll be the lowest hanging fruit: people making under 200k and Main Street
Your “fellow” Republicans aren’t knowingly for anything. They simply shake their pom-poms and root for their team.
I promise you cpa's are not against simplifying the tax code.
Hard to tax cash transactions. Small business always seem to have a "cash" price and a price, I tend to like the "cash" price as it has always saved me money and I could care less about the taxes of the business.
I'm more concerned with the many individuals that are on a disability check and Medicaid that work for cash weekly. Cash employee's are a very big thing, everybody wins right the business and the employee's.
The only draw back is when you go to finance a home because every other financing option is based on a "stated income". I think the last time I bought/financed a car I told the dealership I made 500,000.00 a year. lol
I'm more concerned with the many individuals that are on a disability check and Medicaid that work for cash weekly. Cash employee's are a very big thing, everybody wins right the business and the employee's.
The only draw back is when you go to finance a home because every other financing option is based on a "stated income". I think the last time I bought/financed a car I told the dealership I made 500,000.00 a year. lol
No. Pubs just don't think the solution to every problem is more government and more IRS agents.
Simplifying the tax code would be better. Trump simplified it for millions of Americans by increasing the standard deduction.
You must mean accrual accounting vs cash accounting..... small businesses do not use 'big' GAAP. Even private medium sized businesses don't.... it's too burdensome.
Quickbooks is not GAAP compliant.
We don't know that yet. If it turns out they focus on lower income people, I'll criticize it. I'd expect that the public backlash would put a stop to it if it happened as well.
I'm all for a VAT system and said so many times. I'm not for a VAT and income tax. If we go to a VAT, we need to eliminate the income tax.
Who TF is "my team"?
Read and learn.
Inflation Reduction Act to include $4.8B for IRS to beef up IT systems
The bill includes funding for the Internal Revenue Service to modernize its IT business systems and digital asset monitoring.
www.fedscoop.com
Except for the low-end earners, what we owe in taxes is not an objective number.
Ya want to ease the administrative burden on the IRS? That easy.
Simplify the damn tax code!
What’s even worse is the compliance costs and compliance confusion heaped on taxpayers. Even this bill, which recognizes IRS administrative problems, increases tax complexity with all the green deductions and credits and different EV rules. The Internal Revenue Code is a jumbled complicated hot mess because it is no longer an internal revenue code. It is a mechanism to alter citizen behavior and method by which members of congress can dole out favors to their favored interest groups and constituents. The political contributions which comes from tax benefits keeps incumbents in power.
Did any one catch te irony of how this bill got passed? Sinema held out for a tax benefit for her big donors. The benefit is about something that 95% of taxpayers know nothing about.
Our tax system is FUBARED. Congress is FUBARED. And so are we.
I'm going by what the joint committee on taxation said. A committee of congress under the internal revenue code. Coupled with common sense. Public backlash. Aloha please. There won't be some coordinated response for backlash. The backlash should be now. What more do you need than the joint committee and the opinions of tax experts who recognize the small guy will bear the burden of this enforcement. It's dishonest in how it's framed and it's what igw bitches incessantly about. the big fish won't feel a thing
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A
anon_mya1phvcpf5x4
Guest
Why do teenagers need assault rifles?
If teens can have assault rifles, IRS agents can have guns.
(although I'm guessing the guns part is nothing but GOP propaganda and not based on actual facts)
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I was the one who referenced GAAP. I meant it in general terms, as in "I know the accounting basics." I wasn't referring to CPA level Ninja accounting stuff.
There's no way we could flip a switch and go all in on it. The only way to do it would have been starting with something like Ryan's plan.... Where you start very small with it... and then offset it with income tax reductions. Over time you could increase revenue from a VAT (or Ryan's Border-adjustment tax) and dial down income tax rates.
Good point. Like defunding the police. Then you get enough murders and change when there's a big enough backlash to actually cost you votes.
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