Remember when President Biden said he would not raise taxes on Americans making less than $400,000? Turns out it was a lie.
According to a nonpartisan study, Joe Biden is going to squeeze extra $20 billion from folks who make less than $400,000. Not only that, he is going to employ more Internal Revenue Service (IRS) agents to go after American people of all income brackets.
If that wasn’t enough, Speaker Pelosi and President Biden passed the Inflation “Reduction” Act last year to give the IRS a whopping amount of $80 billion, more than half of which would be used for enforcement. Would this fix the archaic and outdated IRS system? Nope. For every dollar spent on improving “taxpayer services” - things like updating technology or helping you get your refund faster - it will spend $14 on enforcement.
So there you have it - the Biden Administration is not interested in making your life easier. It wants to make it more difficult. No one looks forward to Tax Day, but President Biden made it clear that he wants to make it worse.