The IRS didn’t see Donald coming – he just drained them!
When Donald Trump was elected president, Democrats said he only cared about the big corporations and the wealthy.
But so far, many of his economy moves have aimed to help poor and middle-class Americans.
This includes his most recent accomplishment, which will directly benefit small business owners:
Trump just signed the Taxpayer First Act, which also includes the Clyde Hirsch-Sowers RESPECT Act.
What is it?
For two decades now, the IRS has been able to use (and reportedly abuse) “civil forfeiture,” which always terrified small business owners.
But Trump says no more! From Forbes:
“For the first time in nearly 20 years, Congress has reined in civil forfeiture, which lets the federal government permanently confiscate property without ever filing criminal charges.”
This was unanimously approved by Congress and signifies a major overhaul of the Internal Revenue Service.
And that means the backbone of this country – small, homegrown businesses without millions to play with – can breathe easier.
Does Trump deserve a thank you for this? I think so!
Up until now, the IRS was able to cite “structuring” as a reason for seizing cash and assets.
In fact, between 2005 and 2012, the IRS used civil forfeiture to seize almost $200 million from Americans in over 2,100 cases!
But with this new RESPECT Act, the IRS can only seize your property if it’s “derived from an illegal source.” And in many situations, that isn’t the case.
And there’s one more benefit:
The RESPECT Act (again, included in Trump’s Taxpayer First Act), forces judges to act quickly.
Before, it would take months or even years before property owners could challenge any seizures in court.
Now, judges will have to “promptly review” all structuring seizures.
This really is a significant win for the hardworking business owners of America, especially those who feel they’ve been bullied by the IRS for years.
And once again, Donald Trump is standing tall for those innocent men and women!
SHARE to thank President Trump for putting taxpayers first, not the IRS!
Source: Forbes
