An analysis by the CBO estimates those earning less than $400,000 will pay an estimated $20 billion more in taxes over the next decade as a result of the Democrats’-pushed $740 billion packag…
Small business owners will find themselves in the crosshairs of the new wave of IRS auditors, tax experts said.
“The IRS will have to target small and medium businesses because they won’t fight back,” adds Joe Hinchman, executive vice president at National Taxpayers Union Foundation. “We’ve seen this play out before … the IRS says ‘We’re going after the rich’ but when you’re trying to raise that much money, the rich can only get you so far.”
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ABC’s Jon Karl questions Inflation Reduction Act’s name: ‘Almost Orwellian’The CBO found recently passed bill would have a “negligible” impact on inflation this year and next.
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