https://notthebee.com/article/dont-look-now-but-up-to-90-of-all-new-taxes-in-the-biden-inflation-bill-could-come-from-small-businesses-making-less-than-200k-per-year
Surprise! Up to 90% of all new taxes in
the Biden inflation bill could come from
small businesses making less than $200k
per year
Not the bee, by Daniel Payne
Posted By: jdano, 8/20/2022 4:37:43 PM
A key provision in the Inflation Reduction Act — which throws an extra $80 billion to the IRS to improve the agency's collection of under-reported income — will end up targeting small business owners to pay for the legislation, according to nonpartisan watchdog the Joint Committee on Taxation. The group estimates that between 78% and 90% of the estimated additional $200 billion the IRS will collect will come from small businesses making less than $200,000 annually.