Republican Tennessee Sen. Marsha Blackburn will introduce legislation reducing Internal Revenue Service (IRS) user fees through 2025.
The IRS User Fee Reduction Act creates special reduced fees for taxpayers making $5 million or less in gross income. It lays out specific phaseout provisions for the reduced fees, which would be effective upon the legislation being enacted. (RELATED: EXCLUSIVE: NRCC To Release Ad Tearing Into Democrats Over Vote To Add 87,000 IRS Agents)
“Democrats want to weaponize the IRS by giving them billions of dollars, authorizing thousands of new agents, and allowing them to raise user fees for small businesses,” Sen. Blackburn told the Daily Caller.
“I often hear from business owners across Tennessee fed up with exorbitant fees that leave them at risk of non-compliance. The IRS User Fee Reduction Act takes an important step toward making IRS services more accessible to everyday businesses, preventing massive government overreach, and providing much-needed relief in Joe Biden’s economy,” Blackburn added.
Reducing IRS fees would provide relief to small business owners such as David Kelley, owner of David Kelley Jewelers in Somerville, Tennessee. “I appreciate Senator Blackburn’s hard work on behalf of the Volunteer State. Reducing IRS user fees will go a long way in providing necessary support and relief to small business owners like myself,” Kelley said.
Another small business owner, Marc McBride, President of Cox Oil Company in Union City, Tennessee expressed his support for Sen. Blackburn’s legislation. “This bill lowers IRS fees for businesses, which is especially helpful during these times of high inflation. I appreciate Senator Blackburn working on behalf of small business owners across Tennessee,” McBride said.
As part of the Inflation Reduction Act (IRA) of 2022, Democrats voted to increase IRS funding by $80 billion over ten years. The funding increase could lead to an estimated 87,000 new IRS employees, based on Treasury Department data.
House Republicans voted on Jan. 9 to repeal the IRS funding increase but it is unlikely to pass through the Democratic majority in the senate.
READ THE LEGISLATION HERE: