You know that extra $50 a week you make in cash tips?
Well you better start to put $15 of it in a jar because Joe Biden and the IRS are coming for it.
While they do nothing about massive tax loopholes that I would wager most members of Congress take advantage of to save money on taxes, Biden is about to unleash the power of the IRS on the service industry.
This is exactly what Republicans predicted would happen.
Come and Take It
A new rule was introduced the IRS this week called the Service Industry Tip Compliance Agreement (SITCA).
Basically, this is an oversight tool that the IRS will use to zero in on service industry professionals that it believes are not reporting all their tips.
So, let’s take a poll… are we more concerned about the $60,000 a year waitress not reporting a few thousand in cash tips are do we want to make sure Joe Biden cannot create a pass through LLC to save a few hundred thousand on taxes (yes, that is what he did to save money on taxes when his book came out).
Rep. Mike Kelly (R-PA) went off, stating, “Washington has a spending problem, not a revenue problem. Now, the IRS is going after middle-income families and working moms and dads who are just trying to make ends meet and put food on the table.
“My colleagues and I have warned for months that the IRS would start targeting hardworking Americans in the Biden administration’s quest for more taxpayer dollars.
“Now, we’re starting to see some of these concerns come to fruition.”
Yet another lie by this administration has been exposed.
Source: Fox News
