|
China Coal Mine Blast Tests Limits of Xi's Energy Security Push Bloomberg.comChina's worst coal mining blast in over a decade kills 82 CNNRescuers race to find survivors after a deadly Chinese coal mine blast kills at least 82 AP NewsChina coal mine explosion leaves 82 people dead BBCXi Calls for All-Out Rescue After Coal Mine Explosion Kills at Least 82 in China The New York Times
|
|
Ebola outbreak live updates: Africa CDC warns 10 countries 'at risk' as Uganda confirms 3 more cases YahooLocals near epicenter of the Ebola crisis express fear and concerns about misinformation CNNDR Congo's neighbors impose Covid-style measures in push to limit Ebola's spread NBC NewsEbola Outruns Containment in Eastern Congo as Contact Tracing Falters Bloomberg.com
|
|
Tillis says DOJ's ‘anti-weaponization' fund is 'a payout pot for punks' PoliticoTillis claps back at Trump: ‘Stupid stuff is killing our chances' The HillGOP Senator Revolts Against ‘Stupid on Stilts' Trump Plan The Daily BeastTrump challenges Tillis to keep defying him: 'Weak and ineffective' WBFF
|
|
China lowers death toll in Shanxi coal mine disaster to 82 ReutersChina's worst coal mining blast in over a decade kills 82 CNNXi Calls for All-Out Rescue After Coal Mine Explosion Kills at Least 82 in China The New York TimesChina mine death toll at least 82 after gas blast The GuardianChina Coal Mine Blast Tests Limits of Xi's Energy Security Push Bloomberg
|
|
Middle East crisis live: Pakistan hopes to host US-Iran peace talks ‘very soon', says PM, after Trump claims Tehran deal ‘largely negotiated' The GuardianPakistan's foreign minister: ‘Meaningful progress' achieved in US-Iran negotiations The Times of IsraelMiddle East war live: Pakistan offers to host next Iran-US peace talks 'very soon' France 24PM Shehbaz congratulates Trump on 'extraordinary efforts to pursue peace' after phone call with multiple country leaders Dawn
|
|
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
|
|
