spot_imgspot_img

Op-Ed: Trump’s IRS chief will be a blessing for small businesses

spot_img

President-elect Donald Trump’s nomination of former Rep. Billy Long as the next commissioner of the Internal Revenue Service marks a pivotal moment for America’s taxpayers, especially small business owners.

For better or worse, the IRS plays a significant role in the lives of entrepreneurs, workers, and families. But as much as ordinary Americans may dread the annual chore of filing their taxes, business owners have to deal with the IRS all year long – and savvy business owners are thinking about the tax implications of every decision they make.

As someone who has spent years helping small and medium-sized businesses navigate the complexities of the tax code, I know firsthand how critical it is to have an IRS that serves taxpayers with fairness and transparency. Under Long’s leadership, I am optimistic that the agency will focus on its mission of enforcing tax laws without overburdening honest taxpayers.

Billy Long understands the challenges faced by small business owners because he’s a small business owner himself. He also has experience in real estate, which is highly relevant because the tax code strongly incentivizes real estate investment through a multitude of tax credits and deductions.

Long’s experience in both the private sector and the public sector gives him an invaluable perspective that will make him an effective advocate for taxpayers – a welcome change of pace after the Biden administration’s single-minded obsession with aggressive enforcement and harsh scrutiny of taxpayers.

The tax code is notoriously complex, and small businesses often bear the brunt of that complexity. Unlike large corporations with teams of accountants and attorneys, small business owners frequently lack the resources to identify and utilize the specialty tax credits and deductions available to them. This imbalance not only stifles innovation but also unfairly penalizes entrepreneurs who are the backbone of our economy.

As a specialty tax accountant dedicated to helping small businesses take advantage of the same benefits as large corporations, I’ve seen countless examples of business owners – particularly in the Hispanic community – struggling to make sense of the tax code and paying more taxes than they really owe.

Policies like the Research and Development Tax Credit and energy efficiency deductions, for example, were meant to encourage investment and innovation, but many small businesses don’t even know they qualify for these benefits. An IRS that prioritizes outreach and education under Long’s guidance could change that. The Biden approach to the IRS, conversely, creates a culture of fear that discourages small business owners from taking the deductions and credits to which they are legally entitled.

Long’s leadership could also bring much-needed reforms to the IRS’s enforcement practices. While it is essential to address tax evasion, it is equally important to ensure that enforcement actions are fair and not disproportionately targeted at small businesses and individuals. By investing in modernizing IRS systems and focusing on taxpayer education, Long can help create an environment where compliance is easier, and penalties are a last resort, not a first response.

President Trump’s America First agenda has always emphasized empowering small businesses and promoting economic growth. Long’s nomination is a continuation of that vision. His deep understanding of Main Street America makes him the ideal candidate to transform the IRS into an agency that supports, rather than stifles, entrepreneurial ambition.

As a proud advocate for small businesses, I urge the Senate to confirm Billy Long as IRS Commissioner without delay. The stakes are high: The health of our economy and the livelihoods of millions of Americans depend on it. With Long at the helm, I am confident we will see a brighter future for taxpayers, one where fairness, simplicity, and opportunity take center stage.

The IRS should be an ally of taxpayers, not a source of fear and frustration. It’s time for a new era of taxpayer-centric leadership, and Billy Long is the right leader for the job.

• This article was originally published by RealClearPolitics and made available via RealClearWire.

DON’T MISS OUT

Be the first to know about the latest news, giveaways, events, and updates from The Black Chronicle!

We don’t spam! Read our privacy policy for more info.

spot_img
spot_img

Hot this week

African and Caribbean Nations Call for Reparations for Slave Trade, Propose Global Fund

Nations across Africa and the Caribbean, deeply impacted by...

Health care company agrees to pay $22.5 million to settle claims of over billing

A health care company agreed to pay nearly $22.5...

Sports betting expert offers advice on paying taxes for gambling winnings

(The Center Square) – Tax season is underway, and...

Entertainment district benefits don’t outweigh the cost, economists say

(The Center Square) — Weeks later, after more details...

Business association ‘disappointed’ by WA L&I’s proposed workers comp rate hike

(The Center Square) – The Association of Washington Business...

Trump promises to cut ‘hundreds of billions’ in federal spending next year

President-elect Donald Trump promised to cut "hundreds of billions"...

Wisconsin employment reaches another high but future growth projections flat

(The Center Square) – Wisconsin’s number of individuals employed...

Billionaire Democratic supporter calls Inslee’s wealth tax ‘boneheaded’

(The Center Square) – Gov. Jay Inslee’s proposal for...

Shreveport council postpones reallocated funds, property

(The Center Square) – Two resolutions failing to meet...

Gas prices up in Colorado, though lower than national average

(The Center Square) – This Christmas season, Coloradans will...

Americans continue to flee California, losses replaced by international migration

(The Center Square) - Americans continued their mass departure...

More like this
Related

Trump promises to cut ‘hundreds of billions’ in federal spending next year

President-elect Donald Trump promised to cut "hundreds of billions"...

Georgia Appeals Court Disqualifies Fani Willis From Trump Election Interference Case

According to The New York Times, Georgia’s Court of...

Wisconsin employment reaches another high but future growth projections flat

(The Center Square) – Wisconsin’s number of individuals employed...

Billionaire Democratic supporter calls Inslee’s wealth tax ‘boneheaded’

(The Center Square) – Gov. Jay Inslee’s proposal for...