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Chris Smith

Executive Director
csmith@mainstreetemployers.org

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[Owned by the S Corporation Association]

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tax Bloomberg Tax @tax ·
19 Aug

Opinion: There is no question that firm and fair enforcement is part of what we expect from the IRS. But until they are appropriately funded to process returns, protect data, and answer the phone, they cannot effectively enforce the tax law.
http://btaxgo.com/i6h3SNv

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mainstemployers Main Street Employers @mainstemployers ·
15 Aug

Why DC is overflowing in tax revenues: as individually & family owned biz earn more, they move into higher tax brackets. Their real income after inflation may not be going up, but their taxes are. Main Street is already paying more than its fair share—Washington still wants more.

Wall Street Journal Opinion @WSJopinion

As Senate Democrats vote to raise taxes, the Congressional Budget Office reports that tax revenues continue to roll in at a galloping pace.
https://on.wsj.com/3SKyKVU
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mainstemployers Main Street Employers @mainstemployers ·
15 Aug

WSJ Opinion: Supersizing the Internal Revenue Service https://www.wsj.com/video/series/journal-editorial-report/wsj-opinion-supersizing-the-internal-revenue-service/75645EBD-0316-4716-85DF-C73107568988

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mainstemployers Main Street Employers @mainstemployers ·
14 Aug

A cost of supersizing the tax collector "would be the increased time and energy needed by taxpayers, lawyers, & accountants to defend against a more aggressive IRS." Like persistently high inflation, that's another tax hike on an already beleaguered Main Street. via @FreemanWSJ

James Freeman @FreemanWSJ

The IRS Won’t Just Be Taking More of Your Money https://www.wsj.com/articles/the-irs-wont-just-be-taking-more-of-your-money-11660336247?st=146ylezpimzzz04 via @WSJ
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mainstemployers Main Street Employers @mainstemployers ·
12 Aug

If at first you don't succeed:

Erik Wasson @elwasson

TAXES: @RepRichardNeal says if Dems keep the House will look to raise corp and individual tax rates next year
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mainstemployers Main Street Employers @mainstemployers ·
12 Aug

The timing and composition of the #inflationreductionact mean it will have virtually no impact on inflation in the next few years, when it matters most. via @WSJecon @greg_ip

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mainstemployers Main Street Employers @mainstemployers ·
11 Aug

The #InflationReductionAct fails to combat inflation while raising the tax burden on individually & family-owned biz. It's the last thing a struggling Main Street needs right now. via @SCorpAssn https://s-corp.org/2022/08/ditch-the-ira/

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mainstemployers Main Street Employers @mainstemployers ·
11 Aug

More opposition to #IRA. "powering up the IRS means small businesses and the self-employed will be swarmed by 87,000 new agents...tax data consistently shows that small business owners of moderate means are targeted most frequently." via @SBECouncil https://sbecouncil.org/2022/08/07/sbe-council-letter-to-u-s-senate-opposing-the-inflation-reduction-act/#.YvVnLLLfNmI.twitter

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