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100 Percent Fed Up Feed
100 Percent Fed Up Feed
2 yrs

IRS Collects Record-High Tax Revenue
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IRS Collects Record-High Tax Revenue

The Treasury Inspector General for Tax Administration (TIGTA)‚ the watchdog that oversees the IRS‚ released a report disclosing the amount of tax revenue the agency collected in 2022. In the last fiscal year‚ the IRS reeled in a record-breaking $4.9 trillion from Americans. According to The Epoch Times‚ the record-high tax revenue largely resulted from “automated collections processes and aggressive audits that saw taxpayers hit with billions in additional taxes after examination.” IRS Rakes In Record $4.9 Trillion In Taxes From Americans Amid Enforcement Crackdown https://t.co/pQKAf8chQs — zerohedge (@zerohedge) December 25‚ 2023 “During FY 2022‚ U.S. taxpayers filed more than 161 million individual and 12 million business income tax returns. Return filings resulted in about $4.9 trillion of total tax revenue collected during FY 2022‚ which is about $790 billion more tax revenue than FY 2021‚ and the most revenue ever collected by the IRS‚” the TIGTA report read. “Trends in overall tax revenue impact trends in enforcement revenue. The IRS collected $72 billion in enforcement revenue in FY 2022‚ an increase of 26 percent compared to $58 billion collected in FY 2019. Enforcement revenue collected reached a historic high of nearly $75 billion in FY 2021‚ while from FY 2013 to FY 2020‚ enforcement revenue was just over $59 billion‚” the report continued. “The IRS budget increased approximately 11 percent‚ from $11.3 billion in FY 2019 to $12.6 billion in FY 2022. The IRS ended FY 2022 with 72‚648 full-time equivalent employees‚ a slight decrease from the number of full-time equivalent employees in FY 2019. The revenue collection was driven substantially by automated collection processes. About 74 percent of FY 2022’s enforcement revenue was collected within the Collection notice stream and Automated Collection System (ACS). The ACS‚ which was responsible for $10.6 billion revenue in FY 2019 and $11.5 billion in revenue in FY 2022‚ collected approximately $3.8 million per full-time equivalent in FY 2022‚ while revenue officers within Field Collection collected on average $2.7 million each‚” the report read. The TIGTA report cited the Inflation Reduction Act for boosting the IRS’ budget for enforcement personnel. “The Inflation Reduction Act was signed into law in August 2022 and increased funding for IRS operations by nearly $80 billion over 10 years. The IRS has stated in its Inflation Reduction Act Strategic Operating Plan that it plans transformational change for taxpayers‚ including rebuilding its workforce‚ modernizing its information technology systems‚ and addressing the growing Tax Gap. This law specifically provides the IRS with nearly $46 billion for enforcement activities‚ which could be used for hiring more enforcement personnel‚ and $3 billion for taxpayer services‚” the report read. You can't pay the bills but the IRS has record haul. Something has to give. https://t.co/8bXlaW0Ogh — Matt Locke (@MattLockeRadio) December 25‚ 2023 “While the IRS is poised to continue increasing its reliance on automated systems to squeeze more tax dollars from taxpayers‚ it’s also looking to hire another 3‚700 tax enforcers as it spends an extra $46 billion of the recent $80 billion (later reduced to $60 billion via debt ceiling negotiations) funding boost on enforcement‚” The Epoch Times noted. The outlet discussed the hotly-contested debate of issuing more audits for those earning under $400‚000 per year. From The Epoch Times: The question of whether the IRS will use some of the $60 billion or so funding boost to increase tax enforcement of people making less than $400‚000 has been a contentious issue. IRS and Treasury Department officials have pledged not to increase audit rates for this group of Americans‚ while Republicans and others have argued that this pledge is either false or wishful thinking. Treasury Secretary Janet Yellen has directed the IRS not to raise audit rates above historical levels for this group of taxpayers‚ while IRS Commissioner Danny Werfel has repeatedly made the same pledge. But the IRS watchdog recently cast doubt on this promise‚ warning that Americans making less than $400‚000 could inadvertently get caught in an enforcement dragnet because the IRS doesn’t clearly define “high-income” and its enforcers use an outdated $200‚000 high-income threshold as their default. During recent testimony on Capitol Hill‚ Mr. Werfel appeared to acknowledge the possibility that audit rates could rise for Americans making less than $400‚000 per year. During an Oct. 24 hearing‚ Rep. Virginia Foxx (R-N.C.) pressed the IRS chief to explicitly guarantee that the IRS wouldn’t raise audits on Americans making less than $400‚000. Read the full TIGTA report HERE.
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Conservative Satire
Conservative Satire
2 yrs ·Youtube

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Merry Christmas
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NEWSMAX Feed
NEWSMAX Feed
2 yrs ·Youtube

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'This stinks to high heaven': James Comer on Biden checks
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Front Page Mag Feed
Front Page Mag Feed
2 yrs

Teacher Union Power: Still in Full Bloom
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Teacher Union Power: Still in Full Bloom

While a fifth of all teachers have left their union‚ how many are still full-dues payers? The post Teacher Union Power: Still in Full Bloom appeared first on Frontpage Mag.
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Front Page Mag Feed
Front Page Mag Feed
2 yrs

Artificial Intelligence—Learning Panacea or Progressive Trojan Horse?
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Artificial Intelligence—Learning Panacea or Progressive Trojan Horse?

"In an age of artificial intelligence‚ they are creating artificial stupidity.”  The post Artificial Intelligence—Learning Panacea or Progressive Trojan Horse? appeared first on Frontpage Mag.
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Front Page Mag Feed
2 yrs

Can the Pope Overrule God?
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Can the Pope Overrule God?

A reflection on where the Catholic Church is headed. The post Can the Pope Overrule God? appeared first on Frontpage Mag.
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Front Page Mag Feed
2 yrs

The U.S. Military is Not Woke‚ But the Woke Threat is Real
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The U.S. Military is Not Woke‚ But the Woke Threat is Real

The potential Achilles' heel of our military. The post The U.S. Military is Not Woke‚ But the Woke Threat is Real appeared first on Frontpage Mag.
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Independent Sentinel News Feed
Independent Sentinel News Feed
2 yrs

NGOs Hand Out Maps of Detailed Migration Routes to Illegal Aliens
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NGOs Hand Out Maps of Detailed Migration Routes to Illegal Aliens

Muckraker obtained multiple maps handed out by non-government organizations to illegal crossers across South and Central America. The maps detail the routes to take to the U.S. and where to cross the U.S. border. The new website Muckraker revealed a treasure trove of “mass migration blueprints‚” handed out by NGOs across South and Central America to illegals […] The post NGOs Hand Out Maps of Detailed Migration Routes to Illegal Aliens appeared first on www.independentsentinel.com.
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BlabberBuzz Feed
BlabberBuzz Feed
2 yrs

Unexpected Christmas Exclusive: Tucker Carlson Unveils Shocking Interview With Kevin Spacey In His Iconic Frank Underwood Role
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Unexpected Christmas Exclusive: Tucker Carlson Unveils Shocking Interview With Kevin Spacey In His Iconic Frank Underwood Role

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Daily Wire Feed
Daily Wire Feed
2 yrs

Netanyahu Visits IDF Inside Gaza‚ Vows New ‘Intensifying’ Phase Of War
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Netanyahu Visits IDF Inside Gaza‚ Vows New ‘Intensifying’ Phase Of War

Israeli Prime Minister Benjamin Netanyahu visited soldiers in the Israel Defense Forces (IDF) inside Gaza on Christmas as they continue to battle the Hamas terrorists responsible for the October 7 massacre. Netanyahu visited the northern Gaza Strip with IDF Deputy Chief-of-Staff Maj.-Gen. Amir Baram and was briefed by the Commander of the 261st Brigade‚ Col. Yehuda Wach‚ the Deputy Commander of the 162nd Division and the Deputy Commander of the 261st Brigade. “I am here with you in the northern Gaza Strip and I am extraordinarily impressed. Previously‚ I told your commanders‚ and you‚ as reservists‚ as soldiers – we are proud of you and rely on you. We see the determination and the desire to continue on until the end‚” he said. “Then I have two things to tell you: First‚ we will do everything to maintain your safety and your lives. While we want to pursue the mission‚ we want to safeguard you even more. That is the first – and most important – thing.” “Second‚ we are not stopping. Whoever talks about stopping – there is no such thing. We are not stopping. The war will continue until the end‚ until we finish it‚ no less‚” he continued. “I know that you left your families and that your families support you. That is amazing. That is the power – the key to victory.” The Prime Minister spoke with the soldiers and heard from them about their insistence and determination regarding the mission – to fight until the end‚ until victory. pic.twitter.com/IEU8CgPl3W — Prime Minister of Israel (@IsraeliPM) December 25‚ 2023 PM Netanyahu: "I know that you left your families and that your families support you. That is amazing. That is the power – the key to victory." pic.twitter.com/8d2E24iiNo — Prime Minister of Israel (@IsraeliPM) December 25‚ 2023 Netanyahu’s trip inside enemy territory comes after he rejected calls at the start of the week to ramp down the intensity of Israel’s military operations against Hamas. CLICK HERE TO GET THE DAILYWIRE+ APP “Citizens of Israel‚ we are intensifying the war in the Gaza Strip. We will continue to fight until absolute victory over Hamas‚” Netanyahu said in a statement. “This will take time‚ but we are united – the soldiers‚ the people and the Government. We are united and determined to fight until the end.” He also said that Israel’s decision on how to use its forces belonged to the IDF and the IDF alone — not outside influences.
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