On Tax Day, Ernst Slams Biden’s Witch Hunt on Small Businesses
Summary
On April 19, 2023, Senator Joni Ernst (R-Iowa), Ranking Member of the Senate Small Business Committee, is described as slamming the Internal Revenue Service's (IRS) new plan to increase tax enforcement efforts on small businesses earning more than $400,000. In a letter to the IRS, Ranking Member Ernst writes that the average small business with approximately five employees has receipts of more than $424,000, citing data under the Census Bureau. The letter states that the focus should be on tax solutions that promote small business growth and economic competitiveness, rather than a witch hunt on small businesses by enhancing audit rates without justification. The text links Ernst's letter to IRS Commissioner Werfel.
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“On Tax Day, Ernst Slams Biden’s Witch Hunt on Small Businesses.”
Original at www.sbc.senate.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/committee-6e093f1f7bb4383c/
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Title: On Tax Day, Ernst Slams Biden’s Witch Hunt on Small Businesses Date: 2023-04-19 On Tax Day, Ernst Slams Biden’s Witch Hunt on Small Businesses April 19, 2023 View release on Sen. Ernst's website HERE. “Now is simply not the time to place unnecessary burdens on our small businesses as they continue to grapple with recent economic challenges.” WASHINGTON – As Americans file their taxes and funnel more of their hard-earned dollars into government coffers, U.S. Senator Joni Ernst (R-Iowa), Ranking Member of the Senate Small Business Committee, is slamming the Internal Revenue Service’s (IRS) new plan to increase tax enforcement efforts on small businesses earning more than $400,000. In a letter to the IRS, Ranking Member Ernst writes, “According to data from the Statistics of U.S. Businesses under the U.S. Census Bureau, the average small business with approximately five employees has receipts of more than $424,000. It is abundantly clear that small businesses will bear the brunt of these enforcement efforts; not solely large corporations and the wealthiest taxpayers. “Ongoing high inflation levels has created an unfair, hidden value-added tax on small businesses that have caused diminished margins…Now is simply not the time to place unnecessary burdens on our small businesses as they continue to grapple with recent economic challenges. “Instead of commencing a witch hunt on small businesses by enhancing audit rates without justification, we should focus on tax solutions that promote small business growth and economic competitiveness.” Read Ernst’s letter to IRS Commissioner Werfel here. ### Permalink: https://www.sbc.senate.gov/public/index.cfm/2023/4/on-tax-day-ernst-slams-biden-s-witch-hunt-on-small-businesses
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