> 63% of the IRS' audits under the Biden admin targeted those earning sub-$200K.
replyIn 2022 92.3% of filers reported income of less than $200K [0]. An audit rate of 63% is lower than what one would expect if audit-attracting behavior was evenly distributed across the population.
0. https://www.irs.gov/statistics/soi-tax-stats-individual-stat...
The notion that audits should be evenly distributed is nonsense. Someone making sub-$200K usually has basic W2 income, versus someone making $20M a year who likely has an extremely complicated web of capital gains, deductions, strategies, carry-forward losses etc.
replyIt doesn't even make sense from a pure cash point of view. It's better for an agent to audit someone making $20M and win a $500K judgement than it is for them to audit 1,000 $25K earners and fleece them $500 a piece. What a waste.
Audits should be exponentially lopsided, not targeted exclusively at the middle class.