The IRS Is Coming — And It’s Not Just for the Rich Anymore
Published: 2025-12-20
Status:
Analyzed
Published: 2025-12-20
Status:
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The IRS workforce increase is intended to increase the volume of audits.
"The bill says is they're just going to be increasing the IRS workforce to do more what they do."
Correct
The increased IRS workforce will focus on conducting more tax audits and pursuing more individuals for tax revenue.
"if they bring on more people, what they want to do, they want to increase tax audits. They want to go after more people for tax dollars."
Correct
The government plans to close tax loopholes used by large corporations like Amazon to reduce their tax liability.
"They want to go after corporations like Amazon who use deductions to pay little to no money in taxes legally. So, they want to close some of those loopholes."
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A digital dollar would lead to all transactions being tracked, taxed, and recorded.
"this is kind of one of the downfalls of a digital dollar is everything gets tracked. Every transaction gets tacked. Every purchase gets tracked. Every spend gets tracked because if there's no cash, you know, everything is going to be taxed and and tracked."
Correct
The IRS is expected to increase the number of audits conducted.
"you can bet that they're going to be trying to ramp up audits."
Correct
If the economy does not grow, the government's alternative for revenue is to increase tax rates.
"So now, if you can't get it from a bigger economy, what's the next alternative? We need to charge more money in taxes."
Correct
Due to high inflation and the inability to continue printing money, the government's alternative for funding is to increase tax revenue.
"We're facing the price, which is super high inflation, the some of the highest inflation that we've seen in decades. And now we can't keep printing money. So now what is the alternative? We need to get more tax dollars because that's how the government can get more money."
Correct
The hiring of 87,000 new IRS agents will occur over 10 years, with approximately 50,000 existing agents retiring within the same period.
"So the 87,000 people that they're hiring is going to be over a course of 10 years. They're anticipating that I think around 50,000 of the current 80,000 agents. So there's 80,000 agents right now. They want to add on 87,000 more. About 50,000 of the current agents are expected to retire over the next 10 years."
Pending
The stated intention is for the IRS to target individuals earning over $400,000 annually and those involved in fraudulent government money schemes.
"they're saying that it's going to be only going after people making over $400,000 a year to audit those people. They want to go after the people who have taken fraudulent PPP money, fraudulent money from the government."
Correct
Given the persistent national debt and deficit, taxation will become an increasingly significant issue over time.
"unless our national debt and our deficit magically go away, this tax thing is going to be a bigger and bigger issue as time goes."
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The hiring of additional IRS agents is expected to lead to an increase in tax audits and a greater focus on collecting tax revenue.
"What does that tell us? Well, if they bring on more people, what they want to do, they want to increase tax audits. They want to go after more people for tax dollars."
Correct
The increasing digitization of transactions, including for side hustles, means that more income will be tracked and taxed, especially with the expansion of IRS capabilities.
"So, there's a lot of different things that I mean this so this additional IRS agents isn't something that just happened overnight. This has been something that's been kind of building up. I've been talking about this on YouTube so much. Jesus where I mean this is kind of one of the downfalls of a digital dollar is everything gets tracked. Every transaction gets tacked. Every purchase gets tracked. Every spend gets tracked because if there's no cash, you know, everything is going to be taxed and and tracked."
Correct
Given the economic climate, it is highly probable that tax audits will increase, making it crucial to file and pay taxes diligently and seek professional advice.
"But this is the reality. This is where you want to have a good tax advisor and you want to be filing your taxes. You want to be paying your taxes. And especially now, you want to be prudent because you can bet that they're going to be trying to ramp up audits."
Correct
High national debt and deficits, coupled with a shrinking economy, will likely necessitate an increase in tax rates or a broader tax base to generate sufficient revenue.
"Couple that with the issue of the high national debt, the high deficit. Now you start to really see the issues where, hey, we need more tax dollars. So now, if you can't get it from a bigger economy, what's the next alternative? We need to charge more money in taxes. So this is the things that you want to be aware of because unless our national debt and our deficit magically go away, this tax thing is going to be a bigger and bigger issue as time goes"
Correct