In another classic example of "legislators probably trying to sneak stuff in", my wife is convinced that the IRS mass-hiring is part of a plan to deal with a student loan relief bill and figure out the tax burden associated with it. She could be way off, but it sure doesn't make sense for "fighting inflation".
Fighting inflation requires reducing demand, you see. Cleaning out your wallet reduces demand because you can't buy much. These agents will ensure that you have made errors in your tax returns because you sold Joan some old furniture and didn't report the sale. That ad on Craigslist did not go unnoticed.
Even if those new IRS auditors are a "done deal," allow me to show the silver lining in that cloud. In the first place, as some author said long ago, "The IRS is buried in paperwork." These auditors may hassle small businesses, but what will they obtain? Lots and lots of paper! Secondly, consider the average quality of this new auditor. Working for the Federal government is not the (relatively) wise career choice it was in your parent's or grandparent's day. Let's just say that the talented people avoid government employment like the plague. Decades of "affirmative action" which have only reached a fever pitch recently all but guarantee that those auditors will be bottom-of-the-barrel hires. IRS will be lucky to hire investigators who can even do basic arithmetic, much less have basic accountancy knowledge. In sum, this is just an expansion of the make-work program that much of our government is. Let the auditors come. Let them check the books and receipts. Give them copies of documents. Let them take it all back to their office and find anything wrong. Another writer said that the IRS will literally spend $100 to collect $10 from you. He meant in the sense of pursuing tax evasion. But I assert that's a good first approximation of the return they are likely to get from their compliance budget. You want stupid, it's tough to beat low- and mid-level government employees. The pay is so-so, the benefits good, but the competence is pretty rare.
I somehow don't think they will be going through your tax return...I think they will be used politically...and I didn't see anything about auditing tax returns in that job description...
Oh that makes sense...business owners...finish wrecking the small and medium business owners.
THAT makes sense. Yes, I just didn't think they would be going after individual people's returns.
But yes, I can beleive that.
Sorry didn't mean to be stupid. I wasn't thinking of business owners at all, especially self proprieters and I bet they will do the subchapter S LLC's too. I was thinking of those who work for others, like corporate employees and stuff. But of course, they are gonna use it as a weapon...police, fire, doctors and ESPECIALLY SME's...lets finish off the economy, especially since they will be carrying. Shit.
Yes, those that give the most value to the economy, IMHO....but I wasn't being very specific and you made me think, and made me realize they are gonna go after the producers .....otherwise, they can't put everyone on the Garanteed Income/slavery program.....
We need 87,000 covid investigators, not IRS agents.
In another classic example of "legislators probably trying to sneak stuff in", my wife is convinced that the IRS mass-hiring is part of a plan to deal with a student loan relief bill and figure out the tax burden associated with it. She could be way off, but it sure doesn't make sense for "fighting inflation".
But why would they need to be in top physical condition and use a gun?
Fighting inflation requires reducing demand, you see. Cleaning out your wallet reduces demand because you can't buy much. These agents will ensure that you have made errors in your tax returns because you sold Joan some old furniture and didn't report the sale. That ad on Craigslist did not go unnoticed.
AMEN
Even if those new IRS auditors are a "done deal," allow me to show the silver lining in that cloud. In the first place, as some author said long ago, "The IRS is buried in paperwork." These auditors may hassle small businesses, but what will they obtain? Lots and lots of paper! Secondly, consider the average quality of this new auditor. Working for the Federal government is not the (relatively) wise career choice it was in your parent's or grandparent's day. Let's just say that the talented people avoid government employment like the plague. Decades of "affirmative action" which have only reached a fever pitch recently all but guarantee that those auditors will be bottom-of-the-barrel hires. IRS will be lucky to hire investigators who can even do basic arithmetic, much less have basic accountancy knowledge. In sum, this is just an expansion of the make-work program that much of our government is. Let the auditors come. Let them check the books and receipts. Give them copies of documents. Let them take it all back to their office and find anything wrong. Another writer said that the IRS will literally spend $100 to collect $10 from you. He meant in the sense of pursuing tax evasion. But I assert that's a good first approximation of the return they are likely to get from their compliance budget. You want stupid, it's tough to beat low- and mid-level government employees. The pay is so-so, the benefits good, but the competence is pretty rare.
I somehow don't think they will be going through your tax return...I think they will be used politically...and I didn't see anything about auditing tax returns in that job description...
Where can we see their job description?
You are not a business owner. Try being the one who cuts the checks.
Your point disproves your point. The less qualified, the more harassment you get.
I have been audited before, for no reason. I spent $70k to defend myself to end up only paying $140. It was over 2 years of hell.
I hope you never have to experience that behind your keyboard. Trust me, they will get their pound of flesh.
You are one of the smartest commentators on the Stacks' but this is silly.
Oh that makes sense...business owners...finish wrecking the small and medium business owners.
THAT makes sense. Yes, I just didn't think they would be going after individual people's returns.
But yes, I can beleive that.
Sorry didn't mean to be stupid. I wasn't thinking of business owners at all, especially self proprieters and I bet they will do the subchapter S LLC's too. I was thinking of those who work for others, like corporate employees and stuff. But of course, they are gonna use it as a weapon...police, fire, doctors and ESPECIALLY SME's...lets finish off the economy, especially since they will be carrying. Shit.
I agree. They're coming after both the individual and small/medium business's.
Often they are one in the same, right?
Yes, those that give the most value to the economy, IMHO....but I wasn't being very specific and you made me think, and made me realize they are gonna go after the producers .....otherwise, they can't put everyone on the Garanteed Income/slavery program.....
fyi; i was responding to satan's door knob's comment.
I fully approve this message!
Wow great idea