The Inflation Reduction Act which was signed into law by Biden last month has given an influx of $80m to the IRS and they are using it to bolster the agency with 80k+ agents in order to implement audits for "fat cats" whom might have not had the most truthful tax returns.  Although the administration implied that new audits would not apply for those making less than $400k per year, Senate Democrats voted against that, opening it up for every tax payer at every income level.  

Where this should get everyone's attention is the "virtual currency" section of tax returns.  With plenty of oversight from crypto exchanges such as Coinbase, which has to disclose its' clients activities to the IRS, those that checked "No" but did engage in crypto trading might see a harsh crackdown as well.  So for those that might be in question, PLEASE CHECK YOUR PAST TAX RETURNS!  And file an amendment ASAP, if necessary.  Save yourselves the headache!

Written by: nikethereum.eth / Medium / Mirror