IRS Targeting More Supposedly ‘High-Income’ Americans Than Advertised

September 22, 2023

Don’t count on that promise to not hike taxes on “people making less than $400,000.”

by J.D. Tuccille Reason.com

Earlier this month, the IRS announced a new focus on squeezing “high-income earners” as part of a “historic effort to restore fairness in tax compliance.” I’m not inclined to put the word “fairness” or any other positive sentiments in proximity to “tax compliance,” however the announcement aligns with a Biden administration vow to target those making more than $400,000 per year. But according to the tax inspector general, the IRS’s cutoff for “high-income” is half that of the White House’s, meaning the tax man’s scrutiny is likely to sweep farther and wider than we’ve been told.

Should Only ‘High-Income Earners’ Be Afraid?

“Capitalizing on Inflation Reduction Act funding and following a top-to-bottom review of enforcement efforts, the Internal Revenue Service announced today the start of a sweeping, historic effort to restore fairness in tax compliance by shifting more attention onto high-income earners, partnerships, large corporations and promoters abusing the nation’s tax laws,” according to a September 8 IRS press release.