Former IRS whistleblower says government will target middle class under Dems’ inflation bill: It’s ‘bulls–t’

Contact Your Elected Officials
Fox Business Header

Billionaires are probably ‘sitting back laughing right now,’ former IRS lawyer William Henck tells FOX Business

William Henck, a former Internal Revenue Service (IRS) lawyer who was forced out after making allegations of internal malfeasance, said the government will target middle-income Americans with new audits under the Inflation Reduction Act.

Henck, who worked at the IRS for 30 years until departing in 2017, slammed the IRS and others who have argued additional funding would only result in increased audits for billionaires and corporations. The Inflation Reduction Act, which President Biden is slated to sign into law this week, would nearly double the IRS’ budget, appropriating an additional $79 billion to the agency over the next decade.

“The idea that they’re going to open things up and go after these big billionaires and large corporations is quite frankly bulls–t,” Henck told FOX Business in an interview. “It’s not going to happen. They’re going to give themselves bonuses and promotions and really nice conferences.”

“The big corporations and the billionaires are probably sitting back laughing right now,” he continued.

Henck added that he thought it was “insane” to double the agency’s budget. He said the IRS will target businesses who don’t have enough money to hire Washington lobbyists.

Americans with an annual income of less than $75,000 would be subject to nearly 711,000 new IRS audits under the legislation, according to a House GOP analysis that used historic audit rates. By comparison, individuals making more than $500,000 will receive about 95,000 additional audits as a result of the Inflation Reduction Act.

However, IRS Commissioner Charles Rettig pushed back on reports of new audits, saying “audit rates” would remain the same and that the bill was “absolutely not about increasing audit scrutiny on small businesses or middle-income Americans.” White House press secretary Karine Jean-Pierre told reporters last week that there would be no new audits for people making less than $400,000 per year.

“There will be considerable incentive to basically to shake down taxpayers, and the advantage the IRS has is they have basically unlimited resources and no accountability, whereas a taxpayer has to weigh the cost of accountants, tax lawyers — fighting something in tax court,” Henck told FOX Business.

By Thomas Catenacci

Read Full Article on FoxBusiness.com

Fox News
Fox Newshttps://www.foxnews.com/
FOXNews.com brings readers breaking news, latest stories and videos covering the world, entertainment, health, business, technology, politics, sports and more.

CHARLIE KIRK, YOU WEREN’T PROVED WRONG

"I want to be remembered for courage for my faith,” Kirk had said in a podcast merely two months ago. May his courage spur us to be bolder in our faith.

Trump’s Proposal For NATO To Stop Buying Russian Oil & Start Tariffing China Is Unrealistic

Trump proposed on social media that NATO stop buying Russian oil and start tariffing China 50-100% as part of his plan for ending the Ukrainian Conflict.

The Choices We Make

Death and disagreement are inevitable. Love and hate are choices. We will all die. Before we do, what choices will we make?

Elon Musk Speaks at Unite the Kingdom Rally

Tommy Robinson held rally, with Elon Musk appearing virtually, calling attention to leftist politicians who allow foreign immigrants to invade England.

Doxed Democrats Are Getting Fired Left and Left

Not a misprint because a title of “left and...

Shares of Intel Increase 30 Percent on $5 Billion Nvidia Investment

Shares of Intel increased by about 30 percent at the opening bell after Nvidia announced a $5 billion investment in the struggling chipmaker on Sept. 18.

Kennedy Lauds McDonald’s Initiative to Invest $200 Million in Regenerative Agriculture

HHS Sec. RFK Jr. announced McDonald’s will invest $200M over 7 years to advance sustainable and regenerative agriculture practices.

Federal Judge Blocks Deportation of Unaccompanied Guatemalan Children

A federal district judge formally blocked the DHS from deporting a group of Guatemalan children who entered the US illegally and without parents.

EPA Flags Silicone Chemical D4 as Risk to Humans, Wildlife

U.S. regulators warn D4, used in silicone products from solar panels to cosmetics, may harm women’s fertility and damage wildlife on land and in water.

Trump, Starmer Seal Record $340 Billion ‘Tech Prosperity Deal’

President Trump and British PM Keir Starmer announced a new partnership worth $340 billion in technology, nuclear power, and private equity.

Rubio Says US Visa Revocations Underway After Charlie Kirk Death Celebrations

SoS Marco Rubio said foreign nationals who made celebratory comments over Charlie Kirk’s assassination will have their U.S. visas revoked.

Trump Supports Designating Antifa a Terrorist Organization

President Trump said he would support designating the antifa movement a terrorist organization in the wake of Charlie Kirk’s assassination last week.

US Conducts Strike on Another Drug Boat From Venezuela: Trump

Three people were killed in a U.S. strike on a Venezuelan drug boat, President Donald Trump announced on Sept. 15.
spot_img

Related Articles

Popular Categories

MAGA Business Central