Southern West Virginia News

Congresswoman Carol Miller (R-WV) has expressed her concerns over the IRS's recent changes to the 1099-K reporting threshold in an op-ed published by the National Review. She criticizes what she describes as "Biden’s lame-duck siccing of the IRS on Americans," highlighting that these changes impose unnecessary burdens on taxpayers.

Miller argues that the Biden administration, through the IRS, has acted unilaterally and illegally by adjusting the 1099-K reporting threshold to $5,000 for tax year 2024, further reducing it to $2,500 in 2025, and finally implementing a $600 requirement in 2026. According to Miller, this move is part of an overreach that contradicts the message sent by voters during the recent presidential election.

The 1099-K form is used to report income from businesses accepting payments via credit cards or e-commerce apps. Previously, a taxpayer needed to earn at least $20,000 and have 200 transactions from any one source before receiving this form. The American Rescue Plan changed these rules drastically, reducing both thresholds significantly.

To address these issues, Miller introduced H.R. 190, known as the Saving Gig Economy Taxpayers Act. This legislation aims to restore previous standards of $20,000 in payments and 200 transactions. Miller hopes it will protect gig economy workers and small e-commerce sellers from undue tax burdens.

Miller also points out that despite delays in implementing new rules at the end of 2022 and again in 2023 by the IRS being illegal since Congress determines when tax laws take effect. She emphasizes that her bill seeks not only to correct these thresholds but also to reaffirm Congressional authority over such decisions.

IRS Commissioner Danny Werfel acknowledged during a Ways and Means hearing that reverting back to original thresholds would be easier for administration purposes. However, he noted that current law requires compliance with lowered thresholds unless Congress acts otherwise.

Miller concludes her op-ed by stressing urgency for passing her proposed legislation before January when new tax forms could affect many Americans adversely due largely due "to backup withholding" issues arising from legislative glitches passed under Democrat leadership last year without adequate foresight into potential complications involved therein according resulting confusion among app users facing unexpected deductions their funds given IRS recoverable later only through complex refund processes time-consuming nature thereof making restoration old limits critical prevent further disruptions anticipated forthcoming period ahead ensure smooth transition ongoing reforms targeted achieving broader goals aimed fostering pro-family pro-Main Street business environment nationwide moving forward collectively together towards shared prosperity future generations alike across board equally benefiting all concerned stakeholders ultimately involved overall effort underway currently underway 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