Biden Administration Sending IRS to Target American's Small Transactions Down to $600.
Government compassion in action!
The Biden Administration promised they would not target Americans earning less than $400,000 per year, a promise we have seen broken again and again. This particular action is nothing short of malicious.
Those who make a little extra money selling on Etsy, Ebay, Amazon, PayPal, or those who work occasional gigs. Substack will also be affected.
Aside from the fact that using the IRS to take action against what are essentially small-time transactions is a money loser for the country as the administrative and enforcement costs will almost certainly cost more than the government will take in.
This new IRS rule targets those who will earn as low as $600 a year. It was part of the 2,200-page American Rescue Plan “stimulus” bill passed by Democrats in 2021. Feel rescued yet?
Epoch Times:
This is a startling turnaround from a Trump Administration order that IRS enforcement should not be used for penny-ante violations because the cost of enforcement is more than what the government will ever recover.
It gets worse, as most Americans have no idea how to calculate accurate profit and loss information for small transactions putting the vast majority of those who engage in such small-time “business” in IRS jeopardy.
This bureaucratic nightmare literally targets retirees, part time artists and housewives who do some hobbies on the side, hence why we described it as malicious.
The IRS prefers to target low-income people who cannot fight back and has been doing so for years.
Biden Treasury Secretary Janet Yellen admitted in testimony before Congress that 90% of new IRS audits target families of color and small business. Remember this video and please watch to the end as it contains video of Biden and Harris promising exactly the opposite:
Remember that extra $80 billion for the IRS that the Democrats crammed through just before the Republicans took over the House? New Speaker Mike Johnson passed a bill in the House to claw back $14.5 billion of it to use for the Israeli aid package, but every Democrat in the Senate voted no.
Think on that for just a moment. Democrats in the Senate are so dedicated to targeting the poor, that they blocked aid for Israel and are letting our best ally twist in the wind in order to do so.
He has erected a multitude of New Offices, and sent hither swarms of Officers to harrass our people, and eat out their substance - Thomas Jefferson
See our previous reporting on the weaponization of the IRS HERE.
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