EP40: Will New IRS Agents Target The Middle Class?

Tax Man, Tax Relief Podcast

Will new IRS agents target the middle class?

With recent development that the IRS will receive increased funding of $80 billion over ten years, $45 billion will go towards enforcement of tax laws with a focus on adding human resources and modernizing technology.

Enforcement can mean more audits of businesses and more collection agents pursuing people who owe taxes or think that they owe taxes.

Unfortunately, the people that the IRS goes after are usually small business owners. They look at people who are self-employed. In most small businesses, the owners are middle-class or upper-middle-class, but they can be considered "not wealthy." That is where the majority of the focus will be. We see that every day, small business owners have a huge burden in reporting income tax, federal and state taxes in addition to payroll taxes, sales tax, unemployment tax, and worker's compensation.

So often, these issues stem from not properly filling out forms, not setting things up correctly, or not structuring their business properly because of all the complexities of taxes — but the IRS will be coming after more small businesses. That's where their bread and butter will be with the potential of getting the most collection.

So if you have tax issues or are a middle-class business owner, you need to get your ducks in order and take preventative actions because they will be pursuing you.

Let us help you solve your complex tax problems with ease. Schedule your free consultation at 201-479-2572 or visit www.201tax.com.