BBB calls for 600k+ more annual audits on Americans earning less than $75k annually

6,702 Views | 48 Replies | Last: 1 yr ago by bmks270
Keegan99
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AG
Proc92
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Good. Many Democrat voters will have to get punched in the mouth before waking up and forcing a reckoning.
ChemAg15
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90% of the audits will be on republican voters. The IRS has been weaponized.
Marcus Brutus
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Proc92 said:

Good. Many Democrat voters will have to get punched in the mouth before waking up and forcing a reckoning.


I think this is just work fare for more IRS agents. Im sure they've told to not target POCs.
Marcus Brutus
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ChemAg15 said:

90% of the audits will be on republican voters. The IRS has been weaponized.


Exactly. Between social media and the ICs giving them private info, they know exactly who to target.
AggieDruggist89
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Most rich ass farmers in CA show very little income.....
BadMoonRisin
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They won't be going after Democrats....ask Lois Lerner.

This will be a political persecution tool - make no mistake.
I know I ain't leavin' you like I know He ain't leavin' us
I know we believe in God and I know God believes in us
TRADUCTOR
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BadMoonRisin said:

They won't be going after Democrats....ask Lois Lerner.

This will be a political persecution tool - make no mistake.


Vote for President Trump will get you misapplied IRS payments, mortgage payments, mistaken credit card transaction denials...the list goes on how tech can make your life difficult.
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They should do more audits on "small businesses". Also medium and large, but small in particular. Randomly.

I say this because I know of a few businesses that really stretch the line of what is legal or not legal. I'm not saying people are nefariously trying to cheat the system, but it happens by both happenstance and purpose.

I'm pro taking away all taxes, but if a tax law is in place it should be enforced. Repeal the taxes if you're upset, but everyone should play by the same rules.
Bosco
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Proc92 said:

Good. Many Democrat voters will have to get punched in the mouth before waking up and forcing a reckoning.


Punched in the mouth, kicked, threatened with jail time, denied access to events/COVID passport, audited, lose time, lose money, lose job, lose home, credit ruined ….then they might say "heyyyyy, now wait a minute here…."
Trucker 96
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We should stop the EIC and other welfare via income taxes. It's full of fraud and has no business being part of the tax code. Everyone should pay something
cevans_40
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Premium said:

They should do more audits on "small businesses". Also medium and large, but small in particular. Randomly.

I say this because I know of a few businesses that really stretch the line of what is legal or not legal. I'm not saying people are nefariously trying to cheat the system, but it happens by both happenstance and purpose.

I'm pro taking away all taxes, but if a tax law is in place it should be enforced. Repeal the taxes if you're upset, but everyone should play by the same rules.

Yeah F that. The current tax laws are nearly impossible to follow and anybody supporting more audits is a fool.
ThunderCougarFalconBird
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How do you audit someone making less than $75k/ year?

Sir, I see that your annual adjusted gross is $54k, you took standard deductions, are single, and have no dependents. Where did your income come from? My job as an assistant manager at Office Depot. Here's my W-2. Any questions?
YouBet
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They are going to be so over staffed that they have to do something.
IslanderAg04
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Tax the rich is all liberal bull***** This is all about pushing down the middle class.
Whirligigs
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Premium said:

They should do more audits on "small businesses". Also medium and large, but small in particular. Randomly.

I say this because I know of a few businesses that really stretch the line of what is legal or not legal. I'm not saying people are nefariously trying to cheat the system, but it happens by both happenstance and purpose.

I'm pro taking away all taxes, but if a tax law is in place it should be enforced. Repeal the taxes if you're upset, but everyone should play by the same rules.


Go jump in a lake, statist.
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Whirligigs said:

Premium said:

They should do more audits on "small businesses". Also medium and large, but small in particular. Randomly.

I say this because I know of a few businesses that really stretch the line of what is legal or not legal. I'm not saying people are nefariously trying to cheat the system, but it happens by both happenstance and purpose.

I'm pro taking away all taxes, but if a tax law is in place it should be enforced. Repeal the taxes if you're upset, but everyone should play by the same rules.


Go jump in a lake, statist.


My guess is you didn't have the stamina to make it to the third paragraph.
ThunderCougarFalconBird
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YouBet said:

They are going to be so over staffed that they have to do something.
probably just spend their work week watching internet porn like every other overstaffed government job.
SunrayAg
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Premium said:

They should do more audits on "small businesses". Also medium and large, but small in particular. Randomly.

I say this because I know of a few businesses that really stretch the line of what is legal or not legal. I'm not saying people are nefariously trying to cheat the system, but it happens by both happenstance and purpose.

I'm pro taking away all taxes, but if a tax law is in place it should be enforced. Repeal the taxes if you're upset, but everyone should play by the same rules.


As a small business owner, here's a big hearty GO **** YOURSELF!!!!!
PCC_80
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ThunderCougarFalconBird said:

How do you audit someone making less than $75k/ year?

Sir, I see that your annual adjusted gross is $54k, you took standard deductions, are single, and have no dependents. Where did your income come from? My job as an assistant manager at Office Depot. Here's my W-2. Any questions?
I bet that will be considered at least a weeks worth of work for an auditor at the New IRS.
PCC_80
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ChemAg15 said:

90% of the audits will be on republican voters. The IRS has been weaponized.
Sadly almost half the people in the country will fully support this.
MouthBQ98
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They have to make these ridiculous estimates so they can then estimate they will have a bigger take on tax revenue from fraud or underreporting they are estimating.
LostInLA07
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So voter fraud is non existent and documentation isn't necessary, just mail in the ballot. But mail in tax returns are so full of fraud that there will be billions in additional revenue from all of these audits?

Are the citizens filing tax returns different from the ones voting?
jefe95
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Would be fascinating to hear your opinion of which lines are being pushed.
Detmersdislocatedshoulder
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Premium said:

They should do more audits on "small businesses". Also medium and large, but small in particular. Randomly.

I say this because I know of a few businesses that really stretch the line of what is legal or not legal. I'm not saying people are nefariously trying to cheat the system, but it happens by both happenstance and purpose.

I'm pro taking away all taxes, but if a tax law is in place it should be enforced. Repeal the taxes if you're upset, but everyone should play by the same rules.


And yet they don't.
Trucker 96
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Auditing small businesses is a ton of effort for little payoff.
redsquirrelAG
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SunrayAg said:

Premium said:

They should do more audits on "small businesses". Also medium and large, but small in particular. Randomly.

I say this because I know of a few businesses that really stretch the line of what is legal or not legal. I'm not saying people are nefariously trying to cheat the system, but it happens by both happenstance and purpose.

I'm pro taking away all taxes, but if a tax law is in place it should be enforced. Repeal the taxes if you're upset, but everyone should play by the same rules.


As a small business owner, here's a big hearty GO **** YOURSELF!!!!!


Agreed.
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jefe95 said:

Would be fascinating to hear your opinion of which lines are being pushed.


R&D tax credit to be specific
jefe95
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Interesting. Lots of documentation required for R&D credit.

Wouldn't think a lot of mom and pop small business would even have r&d functions and potentially qualifying expenses.
Clown_World
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Anyone want to bet that the cost of the new IRS agents will be more than any increase in tax revenue from additional auditing?
CNN is the enemy of the state and should be treated as such.
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jefe95 said:

Interesting. Lots of documentation required for R&D credit.

Wouldn't think a lot of mom and pop small business would even have r&d functions and potentially qualifying expenses.


https://www.alliantgroup.com/services/r-d-tax-credit-2/

Seems pretty broad and easy to take advantage of.
APHIS AG
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IslanderAg04 said:

Tax the rich is all liberal bull***** This is all about pushing down the middle class.
This. Every time Biden speaks about "helping" the middle class, he means helping them into poverty.
mazag08
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ThunderCougarFalconBird said:

How do you audit someone making less than $75k/ year?

Sir, I see that your annual adjusted gross is $54k, you took standard deductions, are single, and have no dependents. Where did your income come from? My job as an assistant manager at Office Depot. Here's my W-2. Any questions?


I got audited in a year where I made less than 50k in my early days as a Realtor. The IRS found a couple hundred dollars I expensed that weren't up to their standards.
Ferg
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For those who use Turbo Tax it might be worth paying for the Audit Defense add on.
TOM-M
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Premium said:

jefe95 said:

Interesting. Lots of documentation required for R&D credit.

Wouldn't think a lot of mom and pop small business would even have r&d functions and potentially qualifying expenses.


https://www.alliantgroup.com/services/r-d-tax-credit-2/

Seems pretty broad and easy to take advantage of.



Yeah, kinda like any other expense:

"To claim the credit, the taxpayer must contemporaneously evaluate and document their research activities to establish the amount of qualified research expenses paid for each qualified research activity. While taxpayers may estimate some research expenses, they must have a factual basis for the assumptions used to create the estimates.

Examples of such documentation includes:

Payroll records
General ledger expense detail
Project lists
Project notes
Other documents a company produces throughout the regular course of business

These records combined with credible employee testimony can form the basis of a R&D Tax Credit claim…"



Sunray said it best.
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