The Inflation Reduction Act was proposed by the Biden administration as a way to combat rising inflation. However, many experts are concerned that the bill’s tax reform provisions will result in higher taxes for American taxpayers. Here’s what you need to know about the Inflation Reduction Act and how it could impact your wallet.
The Inflation Reduction Act proposes several changes to the tax code, including a minimum tax on corporations, limits on pass-through tax breaks, and a $80 billion spending spree to beef up IRS collections and audit capabilities. These changes could have a significant impact on American taxpayers.
For example, the minimum tax on corporations would likely be passed down to consumers in the form of higher prices for goods and services. The limits on pass-through tax breaks could also lead to higher taxes for small businesses and individual taxpayers. And, the $80 billion spending spree could lead to higher taxes in the future to pay for the increased IRS staffing.
The Inflation Reduction Act is a complex bill that could have a major impact on American taxpayers. If you’re concerned about how the act could affect your taxes, you should speak with a tax professional to get more information.
The IRS is quickly ramping up its collections efforts, and those who owe back taxes are at the most risk. Tax liens, bank levies, wage garnishments and property seizures will be imposed to justify the bill’s reckless spending. But there is still hope…
Fortunately, the IRS’ current programs are the very same programs approved by the last administration. These powerful resolution programs are designed to settle and eliminate IRS balances, business or personal, at the most affordable rates.
Qualify now before Biden’s tax plan increases collections and eliminates relief. Take advantage of these Trump administration programs if you have: unpaid back taxes, unfiled returns, business tax issues, expensive repayment plans, audits, or aggressive IRS letters.
These powerful resolution programs are designed to settle and eliminate IRS balances, business or personal, at the most affordable rates.
Take advantage of these programs if you have:
Unpaid Back Taxes
Unfiled Returns
Business Tax Issues
Expensive Repayment Plans
Audits
Aggressive IRS Letters
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