In January, small business owners welcomed the news that President Donald Trump reversed President Joe Biden’s plans to expand the IRS by hiring tens of thousands of new agents. Without necessary cultural and structural reforms, these agents would have continued targeting small businesses with lengthy, burdensome audits that are not only time-consuming and expensive but also crush the entrepreneurial spirit that drives the U.S. economy.
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In 2023, a Government Accountability Office report revealed that more than 90% of audits are against middle-class families and small businesses under the $400,000 threshold, a shocking imbalance led by entrenched, politicized bureaucrats at an agency in dire need of reform.
Thankfully, reform is on the horizon with the leadership of U.S. Secretary of the Treasury Scott Bessent and his
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