Vance criticizes IRS for delaying refunds to small businesses.
Sen. J.D. Vance Criticizes IRS for Failing Small Businesses
Sen. J.D. Vance (R-OH) has voiced his criticism of the IRS for its failure to support small businesses with delayed tax credits that were promised to boost operations during the pandemic.
“You would think that an agency with an influx of new resources could process these forms and provide businesses with long-overdue tax relief,” Vance wrote in the Wall Street Journal. “You would be wrong. Progress has been slow. Rather than processing claims and getting money out the door, the IRS discouraged taxpayers from claiming the credit.”
Vance specifically highlighted the slow rollout of the employee retention tax credit (ERC), which was designed to help businesses keep employees on their payroll. However, the ERC has faced fraud controversies due to questionable claims, posing a threat to businesses in need of tax relief.
Despite these challenges, Vance commended the Paycheck Protection Program (PPP), a Small Business Administration-backed initiative that provided funds to support small businesses’ payroll and benefits.
“The program was popular and effective not only in the eyes of business owners and lawmakers, but in the eyes of my fellow conservatives,” Vance said, acknowledging that it wasn’t without flaws.
Vance also criticized the IRS’s renovation movement, referring to the agency’s ”Strategic Operating Plan” launched in April. This plan outlined various initiatives aimed at achieving the IRS’s 10-year vision. While greater taxpayer customer service has been demanded for decades, Vance questioned the effectiveness of the plan and its ability to address novel challenges.
Republicans and Democrats have differing views on how the allocated $80 billion for the IRS should be utilized. Republicans argue that it should be exclusively used to hire additional auditors, while Democrats point to a Treasury report suggesting a broader range of positions to be filled over a 10-year period.
“Republican policymakers have long been fond of saying that government should be run more like a business,” Vance stated. “However glib the remark, the lessons of COVID relief demonstrate that to meet novel challenges and devise effective programs, public policy should leverage the benefits of the market-based system, not seek to tame them.”
For more information, click here to visit the Washington Examiner.
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
Now loading...