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		<title>President Biden doesn&#8217;t just want more taxes; more tax audits may be coming too</title>
		<link>https://cincylink.com/2021/05/23/president-biden-doesnt-just-want-more-taxes-more-tax-audits-may-be-coming-too/</link>
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		<pubDate>Sun, 23 May 2021 04:28:33 +0000</pubDate>
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					<description><![CDATA[WASHINGTON — By now, most Americans know that President Joe Biden's American Jobs Plan and American Families Plan require tax increases. The President wants hikes on individuals making more than $450,000 a year and couples who file their taxes jointly with a combined income of over $500,000 or so. In exchange, transportation would be fundamentally &#8230;]]></description>
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<p>WASHINGTON — By now, most Americans know that President Joe Biden's American Jobs Plan and American Families Plan require tax increases. </p>
<p>The President wants hikes on individuals making more than $450,000 a year and couples who file their taxes jointly with a combined income of over $500,000 or so. </p>
<p>In exchange, transportation would be fundamentally transformed in this country, along with new social programs, like paid family leave, created. </p>
<p>The exact figures will be determined by leaders in Congress as negotiations continue. </p>
<p><b>NOT JUST TAXES </b></p>
<p>The Biden administration wants more than just tax increases, however. </p>
<p>The Internal Revenue Service has announced a comprehensive plan to transform the agency and hold more Americans accountable for what they owe. </p>
<p>The plan, which was released this week, calls for the agency to double in size over the next ten years with 87,000 new employees. </p>
<p>The $80 billion expansion would, according to IRS officials, generate more revenue than it would cost to increase in size. </p>
<p>Officials believe anywhere between $500 billion to $1 trillion in taxes go uncollected each year because Americans or companies don't pay them and aren't held accountable. </p>
<p>Individuals making more than $400,000 annually would be subjected to a higher risk of an audit according to the plan. </p>
<p>Some items of the IRS' plan require congressional approval.</p>
<p><b>CRITICISM BY CONSERVATIVES </b></p>
<p>The "Coalition to Protect American Workers" has launched commercials in Georgia and Pennsylvania criticizing Biden for the plan. </p>
<p>"If Joe Biden gets his way, they are coming: IRS agents," the commercial begins. </p>
<p>The proposal, along with the comprehensive transportation package, will be negotiated over the coming weeks. </p>
<p>No votes are expected until the end of June at the earliest. </p>
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