I'm slow.
I'm trying to understand.
We spending $740 Billion
To collect $300 billion from companies over the next 10 years is what the article states.
Who does that make sense to?
The Democrats did it!!!! Inflation Reduction Act of 2022
- Thread starter easy_b
- Start date
I'm trying to understand.
We spending $740 Billion
To collect $300 billion from companies over the next 10 years is what the article states.
Who does that make sense to?
Be grateful for whatever massa lets us eats brother. It's still goings to helps us yes it will. We gonna eats all the crumbs until we is fullRising Boat huh?
dumb fucks,
they are taking OUR tax dollars, to hire OUR own citizens,
to WATCH OUR pockets, for a fuckin FOREIGN ENTITY..
that money goes right to fuckn ENGLAND..
dumb fucktards believe the stupid shit on msm..
Just the fact, we would tolerate having OUR fuckin GOVT
ON FUCKIN FOREIGN GROUNDS... makes sense to muthafuckas
who were indoctrinated but think its education...
That is the point. For all the hoe babble you never once say I refuse to use those tools because they are not just for black people.
At least dumb ass Trumpers actually died for their beliefs.
We're spending 740 Billion on the environment and healthcare. We're collecting 300 billion from companies to help pay for it.
ooo ooo wee, we sho is gonna be eatin mighty fine, I could smell da pork belly now, kinda smell like
massa and his wife.. who we plan to kill at ahem.. cough cough got a lil frog caught in mah troat~~
Wow
Nothing too different from the Medicare Modernization Act of 2003 that Bush implemented to identify medicare fraud and then it was extended to Medicaid in 2009 under the ACA....RACs or Recovery Audit Contractor were created to identify people and organizations that are trying to fraud CMS with false payments....
Believe you me, consulting companies that do this were hiring like crazy after it was included in the ACA....
If people haven't learned that you can't get over on the FEDS, you have to be the stupidest person on the planet.....
Recovery Audit Contractor - Wikipedia
I have no sympathy for people who abused and finessed the system for more PPP loan money... Anybody caught up, don't care what race - they knew what they were doing, take that L... I know a couple legit businesses who did shit the right way but never got approved - funny thing about that, ALL of the are doing just fine as of today...Nothing too different from the Medicare Modernization Act of 2003 that Bush implemented to identify medicare fraud and then it was extended to Medicaid in 2009 under the ACA....RACs or Recovery Audit Contractor were created to identify people and organizations that are trying to fraud CMS with false payments....
Believe you me, consulting companies that do this were hiring like crazy after it was included in the ACA....
If people haven't learned that you can't get over on the FEDS, you have to be the stupidest person on the planet.....
Recovery Audit Contractor - Wikipedia
en.wikipedia.org
They should be going after Tom Brady fa sho, but we know that ain't happening...
As Democrats continue to gaslight the public about their ‘big win’ here is what Brett Hartl, the director of the Center for Biological Diversity, is saying:
“This is a climate suicide pact. It’s self-defeating to handcuff renewable energy to massive new oil and gas extraction.”
“This is a climate suicide pact. It’s self-defeating to handcuff renewable energy to massive new oil and gas extraction.”
Yes, the IRS is hiring criminal investigators empowered to use deadly force — but here’s some important context
The IRS would be poised to get $80 billion over a decade if the Inflation Reduction Act passes.
“Contrary to the misinformation from opponents of this legislation, small business or households earning $400,000 per year or less will not see an increase in the chances that they are audited,” Yellen said.
Three-quarters of voters say they are not personally worried about being audited by a better-funded IRS, according to a Morning Consult/Politico poll Wednesday. More than half, 56%, said they were not worried about more audits generally.
I know this is way more words than a Twitter post, but in case the link above is limited, below is the full read...
IRS poised to get $80 billion in new funding over the coming decade if the Inflation Reduction Act passes
The Internal Revenue Service’s operations are catching heat as the tax agency is in line for an $80 billion budget boost under the Democrats’ proposed spending plan — and now there’s intense attention being focused on IRS workers who actually pack heat.
It started as criticism from Republican leaders that the tax-collecting agency would bring on 87,000 new employees to “target regular, everyday Americans” with the $80 billion earmarked for the IRS in the Inflation Reduction Act reconciliation bill, which looks poised to become law. That’s a “misleading” claim, according to the Associated Press.
The bill passed Friday in a 220-207 vote of the House of Representatives and is now headed to President Joe Biden’s desk to be signed into law.
In recent days there’s been an online stir over job postings for IRS special agents who carry guns as part of their work with the IRS’s Criminal Investigation Division.
Though the job is really about sniffing out income and accounting irregularities to build legal cases, one of the potential duties is “conduct[ing] or participat[ing] in surveillance, armed escorts, dignitary protection, undercover operations, execution of search and arrest warrants, seizures, etc.,” the job listing states.
There are 300 vacancies for that role, which pays between $50,704 and $89,636 annually, according to the listing.
Financial Crime: Phony filmmaker poses as Desilu, ex–Qualcomm exec charged with fraud, crypto world’s first insider trading case — and all the latest in financial crime
Though the job listing drew new attention this week, requiring some IRS special agents to potentially use deadly force is nothing new, an IRS criminal-investigation spokeswoman confirmed.
“The job description is consistent with previous special-agent announcements for the same position and consistent with announcements from other federal law-enforcement agencies,” the spokeswoman said, noting that the Criminal Investigation Division at the IRS is on its own the federal government’s sixth largest law-enforcement agency.
Following is some context on the special-agent listing and the broader debate over more funding for the IRS.
As a starting point, the estimate of the IRS’s bringing on 87,000 new employees came in 2021 from the Treasury Department, the AP noted. It would be a multiyear hiring plan and would encompass extra auditors plus an array of other jobs amid retirement and other IRS attrition, the AP added.
IRS ranks have been shrinking over the years. The IRS’s annual data book shows that in the last fiscal year it had almost 79,000 full-time workers, nearly a 13% decrease from fiscal 2012.
Data show the criminal division is a sliver of the IRS’s overall workforce. The division includes approximately 3,000 employees, with 2,100 being sworn agents, the spokeswoman noted.
As the agency’s workforce has decreased, so has the IRS’s audit rate among taxpayers at all income levels. Government data shows the decrease is especially sharp for higher earners.
More than half of the $80 billion in supplemental funding in the Inflation Reduction Act would be earmarked for more tax-compliance enforcement. Officials, including Treasury Secretary Janet Yellen and IRS Commissioner Charles Rettig, a Trump pick to lead the agency in 2018, have pledged that the extra enforcement would not be directed at small businesses or households making less than $400,000.
See: FBI searched Trump’s home in Palm Beach, Fla., for classified material about nuclear weapons: report
“Contrary to the misinformation from opponents of this legislation, small business or households earning $400,000 per year or less will not see an increase in the chances that they are audited,” Yellen said.
Three-quarters of voters say they are not personally worried about being audited by a better-funded IRS, according to a Morning Consult/Politico poll Wednesday. More than half, 56%, said they were not worried about more audits generally.
The Inflation Reduction Act now awaits Biden’s signature, and the Democratic president has previously said would sign the bill. From that point, a fuller anticipation to lawmakers would be expected from the IRS later, tax experts said — and some worry there are still too few resources being devoted to helping regular taxpayers with questions.
The $80 billion — again, that’s spread over a decade — would be on top of annual budget appropriations for the agency. The debate over the funding is heated, with some observers saying the IRS needs every cent and others saying it needs no extra money.
For instance, Mark Everson, who served as IRS commissioner during the George W. Bush administration from 2003 to 2007, said the agency needs more money, but not at this magnitude. Extra, inflation-adjusted appropriations around 3% to 5% are a better bet for manageable growth, said Everson, vice chairman of alliantgroup, a specialty tax-services provider.
“The IRS needs to proceed extremely carefully as it ramps up,” he said, adding that “they’ve got to get the right people.” That holds true within the criminal division, he said.
The division itself is “a relatively small part of the agency, but it’s very important, both in terms of the role it plays for criminal tax problems and in support of other violations of law, including terrorism and corporate fraud.”
Criminal Investigation Division officials have to be involved in law-enforcement efforts because “financial information is frequently an important element of federal criminal investigations,” Everson said. “They play an essential role.”
The scandals and criminal cases surrounding WorldCom and Enron were two instances in which the division played an instrumental role, Everson said. More recently, the division was involved in the 2013 takedown of the Silk Road underground website on which sales of drugs and illegal services were powered by the emergence of bitcoin BTCUSD as a payment means.
During fiscal 2021, the IRS completed almost 2,800 criminal investigations, with most resulting in referrals to prosecution. That included more than 1,000 cases related to tax crimes, like evasion; 979 financial-crime cases including money laundering; and 735 drug-related financial crimes.
The long view shows the drain on the Criminal Investigation Division, as well. In the 2011 fiscal year, the division completed nearly 4,700 investigations, according to IRS data.
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Yes, the IRS is hiring criminal investigators empowered to use deadly force — but here’s some important context
Last Updated: Aug. 12, 2022 at 10:21 p.m. ET
First Published: Aug. 11, 2022 at 3:49 p.m. ET
By Andrew Keshner
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Yes, the IRS is hiring criminal investigators empowered to use deadly force — but here’s some important context
Last Updated: Aug. 12, 2022 at 10:21 p.m. ET
First Published: Aug. 11, 2022 at 3:49 p.m. ET
By Andrew Keshner
IRS poised to get $80 billion in new funding over the coming decade if the Inflation Reduction Act passes
The Internal Revenue Service’s operations are catching heat as the tax agency is in line for an $80 billion budget boost under the Democrats’ proposed spending plan — and now there’s intense attention being focused on IRS workers who actually pack heat.
It started as criticism from Republican leaders that the tax-collecting agency would bring on 87,000 new employees to “target regular, everyday Americans” with the $80 billion earmarked for the IRS in the Inflation Reduction Act reconciliation bill, which looks poised to become law. That’s a “misleading” claim, according to the Associated Press.
The bill passed Friday in a 220-207 vote of the House of Representatives and is now headed to President Joe Biden’s desk to be signed into law.
In recent days there’s been an online stir over job postings for IRS special agents who carry guns as part of their work with the IRS’s Criminal Investigation Division.
Though the job is really about sniffing out income and accounting irregularities to build legal cases, one of the potential duties is “conduct[ing] or participat[ing] in surveillance, armed escorts, dignitary protection, undercover operations, execution of search and arrest warrants, seizures, etc.,” the job listing states.
There are 300 vacancies for that role, which pays between $50,704 and $89,636 annually, according to the listing.
Financial Crime: Phony filmmaker poses as Desilu, ex–Qualcomm exec charged with fraud, crypto world’s first insider trading case — and all the latest in financial crime
Though the job listing drew new attention this week, requiring some IRS special agents to potentially use deadly force is nothing new, an IRS criminal-investigation spokeswoman confirmed.
“The job description is consistent with previous special-agent announcements for the same position and consistent with announcements from other federal law-enforcement agencies,” the spokeswoman said, noting that the Criminal Investigation Division at the IRS is on its own the federal government’s sixth largest law-enforcement agency.
Following is some context on the special-agent listing and the broader debate over more funding for the IRS.
As a starting point, the estimate of the IRS’s bringing on 87,000 new employees came in 2021 from the Treasury Department, the AP noted. It would be a multiyear hiring plan and would encompass extra auditors plus an array of other jobs amid retirement and other IRS attrition, the AP added.
IRS ranks have been shrinking over the years. The IRS’s annual data book shows that in the last fiscal year it had almost 79,000 full-time workers, nearly a 13% decrease from fiscal 2012.
Data show the criminal division is a sliver of the IRS’s overall workforce. The division includes approximately 3,000 employees, with 2,100 being sworn agents, the spokeswoman noted.
As the agency’s workforce has decreased, so has the IRS’s audit rate among taxpayers at all income levels. Government data shows the decrease is especially sharp for higher earners.
More than half of the $80 billion in supplemental funding in the Inflation Reduction Act would be earmarked for more tax-compliance enforcement. Officials, including Treasury Secretary Janet Yellen and IRS Commissioner Charles Rettig, a Trump pick to lead the agency in 2018, have pledged that the extra enforcement would not be directed at small businesses or households making less than $400,000.
See: FBI searched Trump’s home in Palm Beach, Fla., for classified material about nuclear weapons: report
“Contrary to the misinformation from opponents of this legislation, small business or households earning $400,000 per year or less will not see an increase in the chances that they are audited,” Yellen said.
Three-quarters of voters say they are not personally worried about being audited by a better-funded IRS, according to a Morning Consult/Politico poll Wednesday. More than half, 56%, said they were not worried about more audits generally.
The Inflation Reduction Act now awaits Biden’s signature, and the Democratic president has previously said would sign the bill. From that point, a fuller anticipation to lawmakers would be expected from the IRS later, tax experts said — and some worry there are still too few resources being devoted to helping regular taxpayers with questions.
The $80 billion — again, that’s spread over a decade — would be on top of annual budget appropriations for the agency. The debate over the funding is heated, with some observers saying the IRS needs every cent and others saying it needs no extra money.
For instance, Mark Everson, who served as IRS commissioner during the George W. Bush administration from 2003 to 2007, said the agency needs more money, but not at this magnitude. Extra, inflation-adjusted appropriations around 3% to 5% are a better bet for manageable growth, said Everson, vice chairman of alliantgroup, a specialty tax-services provider.
“The IRS needs to proceed extremely carefully as it ramps up,” he said, adding that “they’ve got to get the right people.” That holds true within the criminal division, he said.
The division itself is “a relatively small part of the agency, but it’s very important, both in terms of the role it plays for criminal tax problems and in support of other violations of law, including terrorism and corporate fraud.”
Criminal Investigation Division officials have to be involved in law-enforcement efforts because “financial information is frequently an important element of federal criminal investigations,” Everson said. “They play an essential role.”
The scandals and criminal cases surrounding WorldCom and Enron were two instances in which the division played an instrumental role, Everson said. More recently, the division was involved in the 2013 takedown of the Silk Road underground website on which sales of drugs and illegal services were powered by the emergence of bitcoin BTCUSD as a payment means.
During fiscal 2021, the IRS completed almost 2,800 criminal investigations, with most resulting in referrals to prosecution. That included more than 1,000 cases related to tax crimes, like evasion; 979 financial-crime cases including money laundering; and 735 drug-related financial crimes.
The long view shows the drain on the Criminal Investigation Division, as well. In the 2011 fiscal year, the division completed nearly 4,700 investigations, according to IRS data.
Also the republican speak alotnin codes language that only those that understand money globally understand they often talk about the value of the dollar decreasing due to x y z.
Of course most Americans know little of how money truly works especially on a global scale.
So it's fear that the USA will go bankrupt and China will be our boss and we some hoes bending over for India or Russia or whoever, that fires up alot of the gop base as well.
But asking a man to live in poverty to keep America great is gonna be a hard sell especially when the country is more liberal and think outside the box than before.
Sorry for the response, just wanted to chime in real quick.
Let me go back to figuring out what the deal is.
it figures bitch-ass Ted Cruz would be on that list
Inflation Reduction Act will cost middle class $20B in new taxes: CBO
The Inflation Reduction Act sent to President Biden’s desk will end up forcing working-class Americans to pay billions of dollars in new taxes, according to the nonpartisan Congressional Budget Office.
An analysis by the CBO estimates those earning less than $400,000 — the group on which Biden promised not to raise taxes — will pay an estimated $20 billion more in taxes over the next decade as a result of the Democrat-pushed $740 billion package, which also sets aside $80 billion to hire 87,000 IRS agents.
nypost.com
The Inflation Reduction Act sent to President Biden’s desk will end up forcing working-class Americans to pay billions of dollars in new taxes, according to the nonpartisan Congressional Budget Office.
An analysis by the CBO estimates those earning less than $400,000 — the group on which Biden promised not to raise taxes — will pay an estimated $20 billion more in taxes over the next decade as a result of the Democrat-pushed $740 billion package, which also sets aside $80 billion to hire 87,000 IRS agents.
Inflation Reduction Act will cost middle class $20B in new taxes: CBO
An analysis by the CBO estimates those earning less than $400,000 will pay an estimated $20 billion more in taxes over the next decade as a result of the Democrats’-pushed $740 billion packag…
nypost.com
You do realize that’s because more than half of Americans pay zero federal income tax. Why should they worry about an audit.
Yes, the IRS is hiring criminal investigators empowered to use deadly force — but here’s some important context
The IRS would be poised to get $80 billion over a decade if the Inflation Reduction Act passes.www-marketwatch-com.cdn.ampproject.org
“Contrary to the misinformation from opponents of this legislation, small business or households earning $400,000 per year or less will not see an increase in the chances that they are audited,” Yellen said.
Three-quarters of voters say they are not personally worried about being audited by a better-funded IRS, according to a Morning Consult/Politico poll Wednesday. More than half, 56%, said they were not worried about more audits generally.
Anyone who thinks that hiring more IRS agents to go after people is a good idea, must be broke.
How does the bill stop inflation buy taxing corporations, who will just raise prices on all of us. Who comes up with these names?
Please make it make sense.
mere peanuts.Inflation Reduction Act will cost middle class $20B in new taxes: CBO
The Inflation Reduction Act sent to President Biden’s desk will end up forcing working-class Americans to pay billions of dollars in new taxes, according to the nonpartisan Congressional Budget Office.
An analysis by the CBO estimates those earning less than $400,000 — the group on which Biden promised not to raise taxes — will pay an estimated $20 billion more in taxes over the next decade as a result of the Democrat-pushed $740 billion package, which also sets aside $80 billion to hire 87,000 IRS agents.
Inflation Reduction Act will cost middle class $20B in new taxes: CBO
An analysis by the CBO estimates those earning less than $400,000 will pay an estimated $20 billion more in taxes over the next decade as a result of the Democrats’-pushed $740 billion packag…
most people see $20 billion and suddenly their eyes get big and are like omg....
but if you break it down to people how much it actually is per person over a 10 year period...........they'd be like.....aww hell that aint shit.....
the average american spends more money on gas in their car over the course of two weeks, than the taxes they would pay for this plan over a 10 year period.
We obviously have a difference of opinion but ayyy if you're living in fear and concerned about the IRS coming after you then that's on you, not my problem... I'm good over here, my paperwork is A OK and I've never lived in state that requires federal income tax and never will... But that's beside the point, where in the article does is indicate that the 56% represents people who don't pay federal income taxes? Show it to me, make it make sense...
Just so I'm clear:
- Do you have a problem with PPP scammers getting caught up?
- You think corporations paying their fair share in taxes has no residual benefit?
- (Bonus) Do you also think the IRS is coming to take our firearms?
That's not the point.
Was said over and over, no one earning under $400k would see tax increases...
Yet here we are so there's that.
I don’t have a problem with any of the above. My problem is that doing the above doesn’t “stop” inflation, if anything it increases it.
It’s false advertising
I'm still stuck on how you spend 700 to get back 300, the math ain't mathing.
This is money laundering, or pocket stuffing. Taking your money, greasing their own pockets.
Companies will not pay more taxes.
They will only leave America or headquarter elsewhere and pay taxes there which is why many of the biggest companies pay 1-2% taxes making their headquarters in places like Ireland and Netherlands.
This is old but still relevant.
This is money laundering, or pocket stuffing. Taking your money, greasing their own pockets.
Companies will not pay more taxes.
They will only leave America or headquarter elsewhere and pay taxes there which is why many of the biggest companies pay 1-2% taxes making their headquarters in places like Ireland and Netherlands.
This is old but still relevant.
All of them lie just to get your vote.
Its a lose lose situation.
