Congress passed the Inflation Reduction Act. Included in this bill is the addition of 87,000 new IRS auditors. Black small businesses are directly in their crosshairs.
The IRS makes its money from audits. This new Act projects to drive $203.7 billion into the IRS's bucket over the next decade - much coming from small businesses. Black small companies don't have the extra money to appeal audits, so, we pay them what they want.
But we can fight back in a different way.
By keeping meticulous financial records, making timely tax payments, and knowing what the IRS is looking for, Black businesses can remain standing and unscathed by this new supremacist method of attack.