WE recently discussed the so called 'Inflation Reduction Act' and it's funding for the hiring of 87,000 IRS agents ..... some of them to be armed .

A report by the watchdog group 'Open the Books ' in 2020 illustrated how in fact more than 200,000 federal bureaucrats now have been granted the authority to carry guns and make arrests . That is more than the total US Marine force.(186,000).

“One hundred three executive agencies outside of the Department of Defense spent $2.7 billion on guns, ammunition, and military-style equipment between fiscal years 2006 and 2019 (inflation adjusted),” . “Nearly $1 billion ($944.9 million) was spent between fiscal years 2015 and 2019 alone.”

Militarization_Data_for_Imaging_FINAL_31.pdf (openthebooks.com)

Now we know why the IRS needs the 87,000 agents .

Not Jerome Powell on Twitter: "Sam Bankman-Fried: I don’t know where $10 billion dollars went The Pentagon: We don’t know where $2.2 trillion dollars went The IRS: You just sent $601.37 don’t forget to report it." / Twitter

They aren't going after billionaires . Billionaires fund them , They want to go after the independent small fry. Recently the IRS sent out reminders to people who have a side gig that takes payment through sites like PayPal and Venmo that if a payment is above $600 that they have to report it as income.

IRS warns Americans over $600 threshold to report Venmo, PayPal payments - MarketWatch

Quote:

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• For returns for calendar years after 2021:
  
  • Gross payments for goods or services that exceed $600, AND
  • Any number of transactions

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Understanding Your Form 1099-K | Internal Revenue Service (irs.gov)

Before this year, the threshold for filing a Form 1099-K report was at least 200 transactions totaling an aggregate of at least $20,000.
This provision was part of the massive legislation called 'The American Rescue Plan' The 87,000 addition agents for the IRS is in the 'Inflation reduction act' .


The big lie was told
The head of the Internal Revenue Service said that the tax collecting agency will “absolutely not” use $80 billion in new funding to step up audits of low- and middle-income Americans.

87K new agents won't target middle-income Americans - Digis Mak

A watchdog organization begs to differ

between 78% and 90% of the estimated $200 billion that the IRS will collect as a result of the bolstered workforce will come from small businesses.


“The IRS will have to target small and medium businesses because they won’t fight back,” Joe Hinchman, executive vice president at the National Taxpayers Union Foundation, told The Post.
“We’ve seen this play out before … the IRS says ‘We’re going after the rich’ but when you’re trying to raise that much money, the rich can only get you so far

People get $ from these on line sites for many reasons besides income payments . Reimbursement for expenses ;gifts etc frequently get made through these sites . If they mistakenly classifiy it as income then how does one correct it . You can't just inform the IRS of the mistake. You have to haggle with the site to make the correction. If it becomes a dispute with the IRS what resources does the little guy have to fight it ? None .

SBF has IOUs he accumulated from the pols he generously donated other people's money to. That is why he stays tanned in the Bahamas while the small business shlub has to sweat the details of their accounts .

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update . The Repubs are going to attempt to reverse the hiring of an army of IRS agents.

So you think the plan is to tax the rich . Think again,

They need those 87,000 and that $80 billion infusion of monopoly money for shock troops to go after unreported income from tips . No I am not making that up.

Last year the IRS hassled mostly low-income taxpayers, with relatively few millionaires and billionaires getting caught up in the audit sweep.

IRS Audits Few Millionaires But Targeted Many Low-Income Families in FY 2022 (syr.edu)

The ambition of the IRS this year is to go after unreported income from tips .

IRS introduces new service industry tip reporting program | Internal Revenue Service

The new Service Industry Tip Compliance Agreement (SITCA) program will "take advantage of advancements in point-of-sale, time and attendance systems, and electronic payment settlement methods to improve tip reporting compliance."

The plan is to take direct control of the tips away from the employee and make the employer the middleman enforcer ;just as the payroll system takes control of the money from the employee . It is easier for them to enforce because so much tipping is done electronically .

So much for Clueless's lie that only those over $400 thousand will see an increase in their taxes . The Syracuse report above notes that in 2022, low income wage earners who qualified for the earned income tax credit were five times more likely to be audited than any other taxpayers.

This is grabbing at the low hanging fruit . People who survive on tip money do not have the resources to challenge government money grabs like rich people do . They don't have a staff of accountants and attorneys working on their behalf.

Don't believe lunch pail Joe when he says he is a champion of the little people . It is a big lie that he has run with since he became a Senator in 1973 .

Vote Liberal Democrat...The Party Of The Common People!

A report published August 8 reveals that the IRS "misplaced " microfilm containing fiscal year 2010 tax returns .

Sensitive Business and Individual Tax Account Information Stored on Microfilm Cannot Be Located | U.S. Treasury Inspector General for Tax Administration OIG (tigta.gov)

"As a result of the lack of adequate inventory controls, the IRS cannot account for thousands of microfilm cartridges containing millions of sensitive business and individual tax account records."

Sensitive Business and Individual Tax Account Information Stored on Microfilm Cannot Be Located (tigta.gov)

"Our review found that required annual inventories of microfilm cartridges maintained at the Austin, Kansas City, and Ogden Tax Processing Centers have not been performed. In fact, management could not provide a time frame of when the last required annual inventory was conducted,"

I would say this is shocking. But almost nothing shocks me anymore .
What is suggested is that they really don't know how many records could actually be missing . How would they know if they did not take inventory ?


I bet they are being stored in Clueless Joe's garage.

As bad as this is ;it is not a one off . The IRS has been carless before .

Flashback last year.

The IRS 'inadvertently' posted confidential information involving about 120,000 individuals before discovering the error and removing the data from its website about a year after being posted.

IRSBREACH.pdf (wsj.net)


IRS mistakenly releases sensitive data about taxpayers : NPR


2021 ProPublica gained access to wealthy people's records and published them.

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax — ProPublica

But those incidents as bad as they look are small potatoes to losing millions of taxpayer's information. It is an identity thief's wet dream come true,

The big recommendation by the IG appears to be that the IRS should do their job..... things like taking inventory when required duh

Kenneth C. Corbin, commissioner for the Wage and Investment Division blamed the problem on under-funding ..."attrition of experienced staff due to reduced funding" and "the effects of the recent pandemic."

Mabe that's why $80 billion additional monopoly bucks was added to their budget.