Biden’s Plan To Have IRS Audits Target The Wealthy

President Biden has a straightforward idea to help pay for his massive infrastructure and economic reform package: Give the Internal Revenue Service more money to collect the taxes the government is owed.

On Wednesday, Biden proposed giving the IRS $80 billion and more authority over the next 10 years to crack down on tax evasion, especially by wealthier Americans and corporations.

The revenue recouped would be the largest source of funds for his $4-trillion infrastructure and jobs plan to help the economy recover from the effects of COVID-19 shutdowns.

Why is this a big deal? Doesn’t the IRS already do audits?

Not as much in recent years. You’d be surprised. …

Click here to read the full article from the L.A. Times.

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