IRS Targets Small Business Owner in Recruitment Video

Small businesses and freelancers fear that IRS agents will target them first because of new ‘Inflation Reduction Act.’

QUICK FACTS:
  • The Congressional Budget Office reported that the Inflation Reduction Act will come for families generating an income of less than $200,000 a year, raising concerns among freelancers and independent contractors.
  • “I can tell you it’s not the wealthiest people, billionaires who are triggering a $600 Venmo aggregate set of transactions in a year or selling $600 on eBay,” “The War on Small Business” author Carol Roth told Fox News Digital. “That is squarely in the middle class and probably to some extent the lower class.”
  • The office informed lawmakers this month that audits of taxpayers paying under $400,000 account for $20 billion in revenue for the new legislation.
  • Republican Rep. Thomas Massie posted a video Friday of potential IRS agents “taking down a landscape business owner who failed to properly report how he paid for his vehicles.”
FREELANCER AND INDEPENDENT WOMEN’S FORUM SENIOR FELLOW GABRIELLA HOFFMAN ON THE IRS TARGETING MIDDLE-CLASS WORKERS:

“The burden will largely fall on independent workers, independent contractors, freelancers, anyone who comprises the gig economy, because they see them as this kind of uncharted workforce, kind of a wild workforce that has to be reined in,” Hoffman said.

BACKGROUND:
  • According to Senator Ted Cruz (R), the bill absolutely aims at small businesses and individuals.
  • “The Democrats’ idea is that if they audit the hell out of Americans, think of all the money they can raise,” said Cruz.
  • The bill will also raise taxes by instituting a minimum corporate tax rate of 15%, which Democrats estimate will raise $313 billion in revenue.

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