Is The IRS Coming After Tips?
April 10, 2023
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1:55Now PlayingIs The IRS Coming After Tips?
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as posted by the channelThe IRS is coming for your tips. You may remember a few months ago when Democratic politicians doubled the size of the IRS, giving the agency an additional $80 billion so that it could hire thousands of new agents to go after billionaires. Well, that turned out to be partly false. Yes, the IRS is going to get the extra 80 billion, and it's going to hire thousands of new agents to conduct a million new audits on Americans.
But the world's most feared tax agency isn't going to be using all that new money to go after billionaires or stop the next Sam Bankman-Fried or Bernie Madoff. Instead, the Democratic-funded IRS is going to set its sights on a way more powerful, destructive, and threatening adversary: that would be waiters and bartenders.
That's right; the IRS just issued a new proposal designed to go after service industry workers for any tips they have received that are unreported. And, of course, anyone with a brain saw this coming. As we pointed out many times, and the data is clear on this, the majority of new audits that the IRS will conduct this year will be on Americans who earn less than $75,000 per year.
And this is exactly what Democrats wanted when they gave the IRS all that new money. It wasn't about going after billionaires; they doubled the size of the IRS to go after you. That's why Democratic politicians said no to a Republican amendment that would have banned new audits on Americans earning less than $400,000 per year.
So, for you waiters, bartenders, baristas, and service industry workers out there, I hope you have the kinds of friends that the Clintons have or that the Bidens have, or the money that Bezos and Soros have to afford the best tax lawyers and accountants in the world.
Because if not, you may have a new friend coming to visit you this year and you're not gonna like them very much. Moral of the story: don't be surprised when you get exactly what you paid for, or, in this case, voted for.
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