CHARLOTTE – Hey Tax Payer. Have you heard the latest buzz about the IRS?
So, Let’s Get To It…
*“Is it true?” A few of my clients asked me. “The IRS is hiring an “Army of IRS Agents” to go after the middle class?” The IRS, as I have researched, are hiring roughly 88,000 new employees over the next few years to combat the backlog of unprocessed tax returns. In addition, the new workers will fill positions in the Customer Service and IT departments. I was hoping this will mean they will start answering the phones in less than an hour! Remember, our government shut down in 2020 due to COVID19 which means no one was available in the IRS to answer phones or to give us updates on tax returns via the IRS website. This single event of the shutdown resulted in a serious backlog of tax returns that we are still feeling today with unprocessed 2021 taxes.
**Contrary to the verbiage of the “Army” of IRS to target the lower to middle class, the Congressional Budget Office (CBO) reported, “the audit rate will increase for all taxpayers, but higher-income taxpayers would face the largest increase.” Treasury Secretary Janet Yellen directed the IRS Commissioner Charles Rettig in a letter dated Aug 10th, “I direct that any additional resources – including any new personnel or auditors that are hired – shall NOT be used to increase the share of small business households below the $400,000 threshold that are audited…”
***The “Army” of IRS agents will be in response to the 2020 COVID19 Government shutdown, unprocessed tax returns dating back to 2019 to the current tax year, filling customer service positions which mean less wait times on the phone, IT position filled, targeting higher income earners and most importantly to replace an aging IRS staff.
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