PAY ATTENTION TO THIS SHORT!
Remember when we were told not to worry about the IRS’s $80 billion boost? A new Biden proposal changes everything.
Currently, unfiled returns could lead to a misdemeanor, but the proposal makes it a felony, with penalties like 5 years in prison and a $250,000 fine.
With the boost, the IRS is ramping up surveillance, using AI and data tracking to monitor taxpayers closely. This impacts all taxpayers, not just high earners. The IRS’s budget increase signals a stricter era of tax enforcement. Staying on top of your filings is now more crucial than ever.
Steven A. Leahy is a tax attorney in Illinois. He was the host of the long-running popular Radio Show “The IRS Radio Hour” heard every Sunday evening on AM 560 The Answer. Attorney Leahy is also the author of the book “Deal With Your IRS Problems Today!” You can get a FREE copy of this important book at FreeIRSBook.com. Or Call 24/7 (312)664-6649