Buckle up, folks. The IRS is making waves with some significant changes in its enforcement game. With a hefty $80 billion boost promised by lawmakers in 2022, the tax agency is gearing up for a major overhaul in its tactics in both audits and collections.
But here’s the twist: Congress has pulled back 25% of that funding. Yet, despite the setback, the IRS is more than doubling down on its efforts. Their targets? Businessmen, partnerships, high-earners, those owing the IRS, and anyone dipping their toes into digital currency. It’s a shake-up that’s got everyone talking.
Why You Should Pay Attention
For big players, audit rates are set to surge from 9% to a whopping 22.6% by 2026. Even smaller fish aren’t getting off lightly. And if you’re pulling in a hefty income, get ready. Audit rates for incomes over $10 million are climbing from 11% to 16.5% by 2026.
With the IRS tightening its grip, every taxpayer needs to be prepared for what’s coming.
Protecting Your Bottom Line
But don’t panic just yet. Amidst the chaos, there’s some good news. The IRS has promised to leave married filing jointly taxpayers earning $400,000 or less alone ($200,000 for singles; $300,000 for head-of-households). But there’s a catch. This protection only applies if your total positive income (the total of all your 1099s included—not just the net) stays below that threshold. Navigating these waters requires a steady hand.
Why Choose Us?
IRSProb.com will be your ally in navigating these choppy waters. We’re not just here to crunch numbers; we’re strategic partners in your financial journey. Whether it’s dodging audits, understanding new regulations, or maximizing deductions, we’ve got your back.
Take Control: Act Now—Plan and Save
Don’t wait for the IRS to come knocking. Take control of your finances NOW and steer clear of trouble. Reach out to us today to ensure your tax plan is solid and your finances are in good shape. In these uncertain times, having a trusted advisor can make all the difference.
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Give us a call to schedule your personalized tax consultation. Let us guide you through the IRS maze and help you navigate the storm.
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It’s time to get ahead of the curve, folks. This isn’t just about IRS changes; it’s about protecting your bottom line. Let’s weather this storm together.