80% of new IRS revenue will come from small businesses earning under $200K: tax experts

[LegitDuner]

This is worse than being targeted by the FBI... They really are trying to crush small businesses.. I don't care if you're paying $100,000 a year to a CPA doing your taxes, they'll still find something on everybody. Maybe if we register as Democrats they'll leave us alone..

 https://nypost.com/2022/08/03/why-irs-80b-expansion-is-a-nightmare-for-small-business/

“The approach here is to double the IRS workforce, take the leash off, and see how much they can collect,” Hinchman adds. “I think they’ll collect it but it will be quite painful.”

 

[1HasBeen]

Shakedown coming.

 

[Cookie]

I have been audited twice, once as a sole proprietor and another as an S Corp.  Both times they penny pinched me.  The little mistakes were less than the penalties they put on you.  These people are pencil pushers making 50-60k a year and get off on catching you red-handed.  My accountant took care of all, the reason I pay him.  They will go after the low hanging fruit, trust me.

 

[John@Outfront]

i had an audit a few years back. it went on for 5 months, when it was all done they found nothing but i had $4500 in accountant and secretarial fees

painful is the exact feeling i had

they were even looking at receipts under $10 to see if anything was wrong, if it was they would apply that "ratio" across my entire gross sales