Are IRS Audits Really That Bad?

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Are IRS audits really that bad? The Inflation “Reduction” Act includes funds to add 87,000 IRS agents.  According to an unverified source, there are 674 billionaires in the U,S.  I’m pretty sure that’s not who these agents will be auditing.

Naturally, this led to commentary on Twitter.  Forthwith, a few comments by Enrolled Agent Adam Markowitz.  My advice: don’t hire him for, well, much of anything.

Cosmo the wonder dog (Jonah’s Twitter avi)

Jonah Goldberg, with whom I rarely agree, has been audited twice.  He is not a fan of the process:

 

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About Tony Lima

Retired after teaching economics at California State Univ., East Bay (Hayward, CA). Ph.D., economics, Stanford. Also taught MBA finance at the California University of Management and Technology. Occasionally take on a consulting project if it's interesting. Other interests include wine and technology.