Finance
The Inflation Reduction Act Will Punish Americans in Poverty
The Inflation Reduction Act (IRA) gave $45 Billion to the IRS to increase enforcement. The IRA will impact more Americans in poverty than American millionaires. The IRS can punish taxpayers prior to proving in court their guilt or liability through enforcement actions. To understand how the IRS can punish suspected taxpayers in noncompliance, we need to define what an Audit is. Audit= A systematic review or assessment of something. When most of you think of IRS enforcement you think of an In-Person Audit, led by Revenue Agents. The IRS also has something called a Correspondence Audit, to be supported by