Millionaires Get a Lot More IRS Audits in Democratic Bills
- At least one in five millionaires face audits in Khanna bill
- DeFazio, Khanna bills have audits for 95% of big corporations
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Wealthy individuals and large companies would face a major increase in the risk of getting audited by the IRS in two bills unveiled by Democratic lawmakers Thursday.
The U.S. government could take in $1.2 trillion in additional tax revenue over a decade without raising marginal rates by aggressively auditing wealthy individuals and corporations, according to a new bill from Representative Ro Khanna of California.