User Panel
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User Panel
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Posted: 5/6/2024 10:59:28 AM EDT
The number of Internal Revenue Service audits is set to spike in the coming years as the tax agency takes aim at specific groups.
In a statement, the IRS said it is planning more audit focus on the wealthiest taxpayers, large corporations and partnerships. The work is part of the agency’s overhaul backed by some $80 billion in new funding from the Inflation Reduction Act, signed into law in 2022 by President Joe Biden. .. The agency won’t increase the number of audits for small businesses and taxpayers making less than $400,000, rates the IRS said “remain at historically low levels.” Instead, high earners and complex business partnerships will face additional scrutiny. “There is no new wave of audits coming from middle- and low-income (individuals,) coming from mom and pops. That’s not in our plans,” IRS Commissioner Danny Werfel said, according to CBS News. “(The plan) sets an important tone and message for complex filers, high-wealth filers, that this is our focus area,” he said. https://www.al.com/news/2024/05/irs-says-number-of-audits-is-about-to-surge-heres-who-is-most-at-risk.html So only 11.9% of the population has an income of $200+ per year. https://www.statista.com/statistics/203183/percentage-distribution-of-household-income-in-the-us/  They looking at you side hustle people.
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Posted: 5/6/2024 11:02:18 AM EDT
[#1]
Death and Taxes
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Posted: 5/6/2024 11:03:50 AM EDT
[#2]
WWGWD?
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Posted: 5/6/2024 11:04:00 AM EDT
[#3]
Benjamin Franklin: “Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes”
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Posted: 5/6/2024 11:06:36 AM EDT
[#4]
$80B from the inflation reduction act, what a fucking joke
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USA
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Posted: 5/6/2024 11:07:17 AM EDT
[#5]
If you are Republican, you are 10x more likely to be audited.
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Posted: 5/6/2024 11:13:10 AM EDT
[Last Edit: NoFnNamesLeft]
[#6]
$80,000,000,000, to specifically go after 11.9% of taxpayers, in addition to current funds already dedicated to that group.
I don’t know what that comes up to per taxpayer, but I bet it doesn’t add up in the “juice worth the squeeze” column; especially considering there’s a narrow range of “high value” targets. Many have their books in order, some may have minor errors, others are dirty AF, but set their shit up right & tight to survive a audit, and then there’s the amateurs that get sloppy. 80,000,000,000 to catch the sloppy cheats, within that 11.9% group. Fucky, indeed. |
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NC, USA
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Posted: 5/6/2024 11:13:47 AM EDT
[#7]
wife and I got nasty grams from the IRS last week, holding our refund while they "review" whatever it could be they think needs reviewing. Our accountant says they have seen quite a few of these recently, mostly to tax payers with small businesses. Good news is, my pessimistic nature more or less expected this so it wasnt much of a surprise.
Cant imagine what they think they will find, but I am sure they will figure out some way to make us pay more. |
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USA
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Posted: 5/6/2024 11:19:36 AM EDT
[#8]
Quote HistoryOriginally Posted By Karma-NC: wife and I got nasty grams from the IRS last week, holding our refund while they "review" whatever it could be they think needs reviewing. Our accountant says they have seen quite a few of these recently, mostly to tax payers with small businesses. Good news is, my pessimistic nature more or less expected this so it wasnt much of a surprise. Cant imagine what they think they will find, but I am sure they will figure out some way to make us pay more. Me too I got letter saying my refund is in review and now it’s been over a month under review now. |
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Posted: 5/6/2024 11:21:21 AM EDT
[#9]
Weaponized IRS.
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Posted: 5/6/2024 11:22:08 AM EDT
[#10]
That is the cover story. We will have to see what they do under that cover.
Odds are they say that but attack a lot outside of that and deflect any criticism by saying they are not doing it. You know, for an administration so against oil and gas they sure do gaslight a lot. |
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Posted: 5/6/2024 11:24:26 AM EDT
[#11]
They should audit cops and firemen. I hear more ridiculous claims of what’s deductible from those groups than anybody else.
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Posted: 5/6/2024 11:24:57 AM EDT
[#12]
Quote HistoryOriginally Posted By Krombompulos_Michael: If you are Republican, you are 10x more likely to be audited. [sar] Good thing I am a "registered" Independent........  [/sar] (and I agree with what I quoted) |
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Posted: 5/6/2024 11:25:37 AM EDT
[#13]
Quote HistoryOriginally Posted By Karma-NC: wife and I got nasty grams from the IRS last week, holding our refund while they "review" whatever it could be they think needs reviewing. Our accountant says they have seen quite a few of these recently, mostly to tax payers with small businesses. Good news is, my pessimistic nature more or less expected this so it wasnt much of a surprise. Cant imagine what they think they will find, but I am sure they will figure out some way to make us pay more. If you are getting a refund from a small business, you are doing it wrong  Your quarterly estimates are way off or you choose not to roll over any refund into next year's payment. I have yet to receive a letter and I expected one. We are way off with some stuff this year and thought I was going to get screwed. |
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Posted: 5/6/2024 11:26:31 AM EDT
[Last Edit: Scoobysmak]
[#14]
Quote HistoryOriginally Posted By ARUDD: Me too I got letter saying my refund is in review and now it’s been over a month under review now. Quote HistoryOriginally Posted By ARUDD: Originally Posted By Karma-NC: wife and I got nasty grams from the IRS last week, holding our refund while they "review" whatever it could be they think needs reviewing. Our accountant says they have seen quite a few of these recently, mostly to tax payers with small businesses. Good news is, my pessimistic nature more or less expected this so it wasnt much of a surprise. Cant imagine what they think they will find, but I am sure they will figure out some way to make us pay more. Me too I got letter saying my refund is in review and now it’s been over a month under review now. This is why you owe taxes on April 15th.... ...ETA...and possibly 3 other dates of the year.(IRS...another group of ball washing bastards) |
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Posted: 5/6/2024 11:28:11 AM EDT
[#15]
Quote HistoryOriginally Posted By timeless: Weaponized IRS. Just like the rest of Washington. |
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Posted: 5/6/2024 11:32:10 AM EDT
[#16]
Tax Avoidance vs Tax Evasion. Hope the boss doesn't get audited...
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Posted: 5/6/2024 11:33:15 AM EDT
[#17]
They got me. 60 hours of work for a full audit "random" and months of waiting for them to finally send a letter saying they don't recommend any changes to our tax return.
We were always legit. I'm too dumb to know how to cheat and just smart enough to not want to do it anyways. Getting the letter stating we were legit just pissed me off even more. I'd like my god damn time back. That was 60 hours we had to work extra at night and on the weekends instead of doing something a little more enjoyable than combing through documents and answering questions to the agent with her latex gloves up our financial assholes. All you dumb fucks that took extra money during the PPP and the ERC program - they're coming for you. I felt most of the audit was a warning to us to tell to everyone to be prepared to get butt fucked to all high hell if you were less than 110% truthful in obtaining that money. |
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Posted: 5/6/2024 11:36:27 AM EDT
[#18]
Quote HistoryOriginally Posted By JTX23: That is the cover story. We will have to see what they do under that cover. Odds are they say that but attack a lot outside of that and deflect any criticism by saying they are not doing it. You know, for an administration so against oil and gas they sure do gaslight a lot. They were going after $600+ transactions on e sites and digital currency platforms. The money is in the middle class side hustles and they know this. |
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Posted: 5/6/2024 11:36:53 AM EDT
[#19]
Quote HistoryOriginally Posted By FightingHellfish: They should audit cops and firemen. I hear more ridiculous claims of what’s deductible from those groups than anybody else. Take home vehicles.  |
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NC, USA
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Posted: 5/6/2024 11:37:28 AM EDT
[#20]
Quote HistoryOriginally Posted By UV18: If you are getting a refund from a small business, you are doing it wrong Your quarterly estimates are way off or you choose not to roll over any refund into next year's payment. I have yet to receive a letter and I expected one. We are way off with some stuff this year and thought I was going to get screwed. Quote HistoryOriginally Posted By UV18: Originally Posted By Karma-NC: wife and I got nasty grams from the IRS last week, holding our refund while they "review" whatever it could be they think needs reviewing. Our accountant says they have seen quite a few of these recently, mostly to tax payers with small businesses. Good news is, my pessimistic nature more or less expected this so it wasnt much of a surprise. Cant imagine what they think they will find, but I am sure they will figure out some way to make us pay more. If you are getting a refund from a small business, you are doing it wrong Your quarterly estimates are way off or you choose not to roll over any refund into next year's payment. I have yet to receive a letter and I expected one. We are way off with some stuff this year and thought I was going to get screwed. (First time using quotes, sorry if I butcher this!) Refund is on personal returns not business. "Review" is on personal returns. A few years ago we had a really good year and not much in the way of expenses relative to income, so my wife was able to write herself a pretty good size check. I guess that pushed our income up enough that year that we ended up having to pay estimated quarterly. Of course the next year (this past one) was good, but we had more expenses so no extra great big fat check, hence we over payed so, small refund. (also fuck rolling over a refund into next year, I'll be damned if I am floating the govt a single fucking second longer of a free loan than I have to!) Anyways, my wife handles most of this (I am just the problem solver) so the story should be reasonably close, but I may be mixing up a few details? Sorry. Turns out our previous accountant may not have been as "helpful" with advice as we originally thought, we swapped last year. |
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Posted: 5/6/2024 11:39:48 AM EDT
[#21]
Quote HistoryOriginally Posted By EastRiverSD: They got me. 60 hours of work for a full audit "random" and months of waiting for them to finally send a letter saying they don't recommend any changes to our tax return. We were always legit. I'm too dumb to know how to cheat and just smart enough to not want to do it anyways. Getting the letter stating we were legit just pissed me off even more. I'd like my god damn time back. That was 60 hours we had to work extra at night and on the weekends instead of doing something a little more enjoyable than combing through documents and answering questions to the agent with her latex gloves up our financial assholes. All you dumb fucks that took extra money during the PPP and the ERC program - they're coming for you. I felt most of the audit was a warning to us to tell to everyone to be prepared to get butt fucked to all high hell if you were less than 110% truthful in obtaining that money. I certainly hope so... |
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MI, USA
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Posted: 5/6/2024 11:41:07 AM EDT
[#22]
I have a letter from the IRS saying I owe them 41K for 2022.... I'm saying I owe them dick. This shall be fun.
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OH, USA
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Posted: 5/6/2024 11:43:16 AM EDT
[#23]
I tried explaining this to a friend once, but he doesn’t believe me.
I am one of two owners of a reasonably large company. We do around $75 mil in revenue a year. We are a sub S Corp. we are prime candidates for what the IRS wants to look into. We have a very good accounting firm do a full audit every year. We have tax professionals (CPA’s and lawyers) advise us on what is the right way to do things. I am 100% confident we are doing things right and paying taxes properly. We keep things conservative because that’s smart when it comes to taxes. How many audits like mine will the IRS do and find nothing before they admit big companies spend a lot of money every year to ensure their taxes are correct before they go to the smaller folks who don’t have an army of accountants and lawyers making sure everything is correct? This notion that big companies and rich folks cheat and need to be caught is silly. The more you have, the less you’re willing to risk on silly tax saving BS that might be sketchy. The bigger you are, the better your advising professionals are, they’re going to spend a lot of effort for nothing but will eventually find the fertile hunting ground that is the middle class. |
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SC, USA
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Posted: 5/6/2024 11:43:48 AM EDT
[#24]
So they are going to squeeze the only people who are paying anyway. Excellent.
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USA
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Posted: 5/6/2024 11:45:17 AM EDT
[#25]
Quote HistoryOriginally Posted By Scoobysmak: This is why you owe taxes on April 15th.... ...ETA...and possibly 3 other dates of the year.(IRS...another group of ball washing bastards) Quote HistoryOriginally Posted By Scoobysmak: Originally Posted By ARUDD: Originally Posted By Karma-NC: wife and I got nasty grams from the IRS last week, holding our refund while they "review" whatever it could be they think needs reviewing. Our accountant says they have seen quite a few of these recently, mostly to tax payers with small businesses. Good news is, my pessimistic nature more or less expected this so it wasnt much of a surprise. Cant imagine what they think they will find, but I am sure they will figure out some way to make us pay more. Me too I got letter saying my refund is in review and now it’s been over a month under review now. This is why you owe taxes on April 15th.... ...ETA...and possibly 3 other dates of the year.(IRS...another group of ball washing bastards) Well, I pay taxes every month and every quarter and I file early every year around March 15 and should get a refund. what a joke, the IRS is coming for all high income earners even ones make 200,000. |
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USA
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Posted: 5/6/2024 11:48:26 AM EDT
[#26]
They are hiring and I'm tempted to apply. The large business group is paying 116k to 183k or so. That's a nice salary for harassing people 40 hours per week.
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Posted: 5/6/2024 11:49:35 AM EDT
[Last Edit: buck19delta]
[#27]
Conservative groups, middle class, people making money buying / reselling items, via EE, EBAY, Facebook, yard sales, etc, buckle up. Those $600.00 a year tax reporting via online platforms will return the week after Biden’s re-elected via voter fraud, their 87,000 new irs agents and AI smart tax software will be auditing errbody.
Facebook marketplace sellers, eBay, EE, gunbroker, Craigslist, yard sales, only fans, used cars, motorcycles, lawn mowers, and 1000 other places will start reporting you to the irs for listing $600 a year in items a year ( combined ), Pure bullshit as every dollar you touch was already taxed 17 times and now they want to tax yard sale items, the old clothes your kids outgrew and your wife’s selling for $1.00 each, with fed gov preaching about you being financially responsible and paying your fair share of taxes, Meanwhile..…U.S. government should have a 450 credit score due to its horrific financial retardation and racking up massive debt on stupid wasteful shit. |
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Posted: 5/6/2024 11:52:50 AM EDT
[Last Edit: FlashMan-7k]
[#28]
Originally Posted By Bama-Shooter: The number of Internal Revenue Service audits is set to spike in the coming years as the tax agency takes aim at specific groups. In a statement, the IRS said it is planning more audit focus on the wealthiest taxpayers, large corporations and partnerships. The work is part of the agency’s overhaul backed by some $80 billion in new funding from the Inflation Reduction Act, signed into law in 2022 by President Joe Biden. .. The agency won’t increase the number of audits for small businesses and taxpayers making less than $400,000, rates the IRS said “remain at historically low levels.” Instead, high earners and complex business partnerships will face additional scrutiny. “There is no new wave of audits coming from middle- and low-income (individuals,) coming from mom and pops. That’s not in our plans,” IRS Commissioner Danny Werfel said, according to CBS News. “(The plan) sets an important tone and message for complex filers, high-wealth filers, that this is our focus area,” he said. https://www.al.com/news/2024/05/irs-says-number-of-audits-is-about-to-surge-heres-who-is-most-at-risk.html So only 11.9% of the population has an income of $200+ per year. https://www.statista.com/statistics/203183/percentage-distribution-of-household-income-in-the-us/ They looking at you side hustle people.They don't go after people with the money to fight them. They don't even go after middle class people. They go after the poorest they can get away with crushing who will roll over immediately and pay the "protection" money to make the IRS go away. I gather that's what theyv'e always done. |
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Posted: 5/6/2024 11:55:00 AM EDT
[#29]
White Republican men.
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IA, USA
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Posted: 5/6/2024 12:00:09 PM EDT
[#30]
Leaves me out. Whew.
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Posted: 5/6/2024 12:02:05 PM EDT
[#31]
Quote HistoryOriginally Posted By FightingHellfish: They should audit cops and firemen. I hear more ridiculous claims of what’s deductible from those groups than anybody else. Not even. Teachers and businessmen. Oh, and military. Those are the worst for silly deductions. Most cops and firefighters are using the simple forms now. |
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Posted: 5/6/2024 12:02:23 PM EDT
[#32]
Quote HistoryOriginally Posted By Bama-Shooter: They were going after $600+ transactions on e sites and digital currency platforms. The money is in the middle class side hustles and they know this. Quote HistoryOriginally Posted By Bama-Shooter: Originally Posted By JTX23: That is the cover story. We will have to see what they do under that cover. Odds are they say that but attack a lot outside of that and deflect any criticism by saying they are not doing it. You know, for an administration so against oil and gas they sure do gaslight a lot. They were going after $600+ transactions on e sites and digital currency platforms. The money is in the middle class side hustles and they know this. Only fan girls are gonna be hurting. |
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Posted: 5/6/2024 12:02:25 PM EDT
[#33]
Quote HistoryOriginally Posted By Karma-NC: (also fuck rolling over a refund into next year, I'll be damned if I am floating the govt a single fucking second longer of a free loan than I have to!) Your business taxes are due 3/15. Your quarterly is due 4/15. If there is any, I just roll it into my 1st quarter's estimated tax due. I try to owe them each year and not by much. Last year was not the case and I owed them way too much, along with a state due to a property sale. |
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Posted: 5/6/2024 12:02:32 PM EDT
[#34]
They know that the high income earners will pay it to preserve their high income. It's a targeted attack.
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Posted: 5/6/2024 12:02:56 PM EDT
[#35]
Quote HistoryOriginally Posted By NoFnNamesLeft: $80,000,000,000, to specifically go after 11.9% of taxpayers, in addition to current funds already dedicated to that group. I don’t know what that comes up to per taxpayer, but I bet it doesn’t add up in the “juice worth the squeeze” column; especially considering there’s a narrow range of “high value” targets. Many have their books in order, some may have minor errors, others are dirty AF, but set their shit up right & tight to survive a audit, and then there’s the amateurs that get sloppy. 80,000,000,000 to catch the sloppy cheats, within that 11.9% group. Fucky, indeed. It’s not about government earning money, it’s about government punishing people and behaviors is doesn’t like. Illegals working under the table for cash, or 8000 of them using the same ss# won’t get attention, but you washing cars / mowing yards / buying and reselling yard sale items for profit, for some extra gas / food / rent money will get you audited for tax evasion, and your political party will determine a lot. Remember when the IRS during FBHO refused tax exempt status to conservative groups while rubber stamping liberal groups in large numbers? And republican audits outnumbered democrat audits by 75% ? |
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Posted: 5/6/2024 12:07:39 PM EDT
[#36]
Quote HistoryOriginally Posted By ricky_45: They are hiring and I'm tempted to apply. The large business group is paying 116k to 183k or so. That's a nice salary for harassing people 40 hours per week.  Show me where they didn't stop off for the "hot toddy" right after they got to work....and the siesta later that day....
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Posted: 5/6/2024 12:10:57 PM EDT
[#37]
I can't help but think there's a civil rights violation here. The spokesman stated they were going after a particular group based on income level alone and ignoring others based on income alone. Violation of equal protection clause, if I'm not mistaken. Lots of bartenders and servers who lie about their income who deserve to be audited.
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Posted: 5/6/2024 12:12:28 PM EDT
[#38]
Quote HistoryOriginally Posted By ricky_45: They are hiring and I'm tempted to apply. The large business group is paying 116k to 183k or so. That's a nice salary for harassing people 40 hours per week. 
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Posted: 5/6/2024 12:13:37 PM EDT
[#39]
As a small and medium business owner, I can definitely say, don't FAFO when it come to taxes. Yes, use all available legal options to reduce your tax liability but, don't cheat. I got busted for a legit mistake and paid dearly.
Most audits are fairly minor and easy to comply with. Get hit with a forensic audit and you'll wish you were dead. I know first-hand. It sucks!!! |
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USA
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Posted: 5/6/2024 12:15:14 PM EDT
[#40]
Quote HistoryOriginally Posted By raverill: $80B from the inflation reduction act, what a fucking joke Spend 80 Billion to recoup no where near that much.. |
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Posted: 5/6/2024 12:22:10 PM EDT
[#41]
They have to come up with $80 billion somehow.
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USA
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Posted: 5/6/2024 12:22:57 PM EDT
[#42]
What bothers me the most is our tax dollars are going to the Taliban
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Posted: 5/6/2024 12:24:21 PM EDT
[#43]
Quote HistoryOriginally Posted By M4Real: As a small and medium business owner, I can definitely say, don't FAFO when it come to taxes. Yes, use all available legal options to reduce your tax liability but, don't cheat. I got busted for a legit mistake and paid dearly. Most audits are fairly minor and easy to comply with. Get hit with a forensic audit and you'll wish you were dead. I know first-hand. It sucks!!! IRS can GFYS. Enough is enough. "Wishing you were dead" and dealing with a .gov entity is nowhere near healthy. Anyone that works for or with the IRS, anyone that profits from the system, including the fucking janitor, are all fucking traitors to The Constitution. Fuck every last one of them  
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CAN
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Posted: 5/6/2024 12:25:24 PM EDT
[#44]
Oh look! Unelected bureaucrats are threatening the citizenry again. Color me surprised.
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Posted: 5/6/2024 12:26:06 PM EDT
[#45]
Those Ukraine checks ain't gonna write themselves
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CO, USA
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Posted: 5/6/2024 12:31:21 PM EDT
[#46]
Been waiting since Feb 5th for my return. Got the same letter saying they are "reviewing" my return. They are still "reviewing" it 90 days later. I just have W2 income and I don't claim any credits. What's to review?
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Posted: 5/6/2024 12:33:21 PM EDT
[#47]
FIRS
I suspect they will be auditing everybody before it's all said and done. The IRS hiring 80k new agents is one of the reasons I went back to using an professional accounting service again last year. |
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Posted: 5/6/2024 12:35:32 PM EDT
[#48]
FUCK the irs
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Posted: 5/6/2024 12:41:33 PM EDT
[#49]
If they hold up a refund and eventually pay as nothing was wrong, they include interest on the money they held up. And then tax that interest.
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USA
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Posted: 5/6/2024 12:44:53 PM EDT
[#50]
White guys?
What did I win |
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