|
Jingle bills: Arkansas Powerball player strikes $1.8bn jackpot on Christmas Eve BBCPowerball $1.817 billion Christmas Eve jackpot won by one ticket, in Arkansas YahooWinning Powerball numbers last night, Dec. 24: Anyone win? Powerball winner in Arkansas IndyStar$1 million-winning Powerball ticket sold in Indiana WTHR
|
|
Box Office: Christmas Eve Led by 'Avatar: Fire and Ash'; Marty Supreme & 'Anaconda' Previews Deadline'Avatar' Leads Christmas Eve Box Office, Marty Supreme Earns $2 Million Previews Variety‘Avatar: Fire and Ash' Review: For the First Time in His Spectacular Career, James Cameron Delivers a Movie That Feels Like Something You've Seen Before IndieWireReview: Three Movies in, Avatar Has Lost Its Wonder Time MagazineBox Office: 'Avatar 3' Passes $450 Million
|
RELATED ARTICLES | | |
|
There's no way to sugarcoat this: Small and midsize businesses should be scared to death about the consequences of the Inflation Reduction Act. Unless they provide goods and services to the green energy industry, the law's unforeseen consequences could increase their operating expenses in two ways. Here's what to expect — and how to prepare.
SEE MORE Audit-Proof Your Small Business
The Inflation Reduction Act is essentially a climate change law with some health care benefits. While the new legislation doesn't include any direct tax increases on small and midsize businesses, some of its provisions have the potential to raise costs for these companies significantly.
First Reason Why Cost of Business Could Be Going Up
For one, your chances of being audited may be going up. The new bill substantially expands the Internal Revenue Service's budget: More than half of the $80 billion increase in the IRS budget over 10 years will be used to beef up enforcement through new technology and new hires. That means more audits for companies that are the least able to financially manage them. I worry for businesses that gross $5 million or less since they usually don't have excess funds to pay a lawyer $50,000 to fight the IRS if their matter proceeds to court.
In a letter to the Senate, the agency's commissioner said, "These resources are absolutely not about increasing audit scrutiny on small businesses or middle-income Americans." Even so, with the hire of new auditors, it's likely that people with little or
|
|
