The Republicans on the House Ways and Means Committee just applied the numbers of 2012—which the Biden administration says it wants to bring back—and found the IRS would have 1.2 million new audits. A little over 94,000 audits would look at people making $500,000 a year or more.
The IRS will audit more than four times as many people who make less than $25,000—including 127,773 who have zero income. The largest number of audits will hit Americans with the lowest incomes: The IRS plans to audit people who earned between $1 and $24,999 at least 313,064 more times.
The IRS also has designs to audit 147,194 more Americans making between $25,000 and $50,000; and another 122,832 audits for people earning $50,000 to $74,999 a year.
Add it up, and the federal government admits the IRS plans to instigate 710,863 new audits of people who make less than $75,000 a year.
“Value shoppers at Walmart and other retailers, already struggling with higher prices and more expensive fuel to drive to the store, will get hit with 710,000 additional audits thanks to the Manchin-Biden Democrat bill,” says Rep. Kevin Brady, the highest-ranking Republican to sit on the powerful House Ways and Means Committee, which oversees everything having to do with taxes.