While Americans are struggling with the rising costs of necessities such as eggs, milk, and fuel due to inflation, the Biden administration has chosen to combat inflation by; you guessed it, spending more of taxpayer’s money!
The Inflation Reduction Act involves considerable spending on traditional democratic pipe dreams such as climate change and affordable prescription drugs. However, it is the part of the bill which proposes tax reform that has really shaken the nation…
This cleverly named bill not only imposes a minimum tax on corporations, limits pass through tax breaks, but also includes a massive $80 Billion spending spree to beef up IRS collections and audit capabilities. Experts are concerned that Biden’s plan to hire 87,000 IRS agents to finally catch “billionaires and corporate tax cheats”, will without a doubt, target the working class and small business owners.
According to the Internal Revenue Service’s (IRS) Strategic Operating Plan, the agency plans to hire almost 30,000 new employees and “invest” that $80 billion over the next two years in enhancing tax enforcement and customer service.
During the 2023 and 2024 fiscal years, the IRS will spend around $8.64 billion of the new funding, with 8,782 of the new hires being enforcement staff. Deputy Treasury Secretary Wally Adeyemo told reporters that the IRS would be recruiting more data scientists for enforcement purposes than ever before, who will work with traditional tax attorneys and revenue agents to identify audit targets using new data analytics technology. The IRS has also been expanding its customer service team, with 5,000 new taxpayer services employees hired in recent months. Over the next two years, the IRS plans to hire a total of 13,883 full-time-equivalent customer service staff, in addition to the newly hired employees.
What they fail to publicly disclaim is that a significant portion of the new hires at the IRS will be replace retiring employees!
As the IRS quickly ramps up, those who are at risk the most right now are the 12 million plus citizens who currently owe back taxes for previous years. Tax liens, bank levies, wage garnishments and property seizures will be imposed to justify the bill’s reckless spending. But there is still hope…
Fortunately, the IRS’ current programs are the very same programs approved by the Trump administration.
These powerful resolution programs are designed to settle and eliminate IRS balances, business or personal, at the most affordable rates.
Qualify now before Biden’s tax plan increases collections and eliminates relief…
Take advantage of these Trump Administration Programs if you have:
Taxpayers who give up their rights and turn to the IRS without the assistance of a tax professional will undoubtedly be deprived of these fresh start programs. Those who owe back taxes or haven’t filed tax returns in years are urged to check www.taxnetworkusa.com to exercise their rights and swiftly reduce their tax liabilities.